Burgess Commentary:
I came across this material today (June 13, 2016) some five years after the information was first compiled. It reminded me of the intense anger that the US population at large had for the appalling behavior of the banking and financial services industry in the run up to the financial crisis and in the subsequent period after the industry was bailed out by the taxpayer.

Very few ordinary people believe that the banking industry has been held to account for their behavior ... and I am in that group. I am disgusted by the fact that the system still has a structure that rewards people for maximising profit, without taking into account important matters like cost to society, cost to the environment and all the associated risks.

Hopefully, the 2016 election will enable a political movement so that people are protected in a more just way than heretofore.
Peter Burgess

by upsetindyhomeowner April 4, 2011 6:21 PM EDT can anyone help me please. i have had to move out of my home due to US Bank put my home into foreclosure. they had the sheriffs sale january 13th. i have had to move and the home is empty. what can i do i was only 2 months behind they claimed it was more, i have all the receipts and all. please help. thank you

by mdking777 April 4, 2011 6:10 PM EDT For California residents only: There is a financial group(Call Pat) that has been studying this for years. They work with attorneys who specialize in this area. I would recommend calling them. 916-743-3246.

by abacheman April 4, 2011 5:44 PM EDT I got a HAMP modification just over a year ago, but the original mortgage balance lurks in the shadows; if I ever have to sell, which is a real possibility, I'm still on the hook for the non-modified mortgage balance, and this house has lost 38% of its original purchase price (which was an inflated ripoff, of course).So I'm very worried now about having signed those modification papers and, per 60Mins; I really don't know what institution owns the mortgage. If anyone has guidance, please respond at chrisfrancisvalentine@gmail.com or at Facebook with Chris Kelley. I greatly appreciate help.

by SaveAmericaOne April 4, 2011 5:39 PM EDT CBS missing great opportunity to up ratings.

TOP READER PICKS-4,300,000 visits Posted on March 30, 2010 by Neil Garfield Come on we need 15 minutes every SUNDAY so you can educate the masses! Excellent resources:

60 MINUTES: SECURITIZATION PROPERTY TITLES ARE A 'TRAIN WRECK' Posted on April 4, 2011 by Neil Garfield http://livinglies.wordpress.com/2011/04/04/60-minutes-securitization-property-titles-are-a-train-wreck/

FORECLOSURE BLUES BLOG GETS AXED http://livinglies.wordpress.com/2011/04/03/foreclosure-blues-blog-gets-axed/

NEW JERSEY REPORT DETAILS LPS CREATION OF FALSE DOCUMENTS http://livinglies.wordpress.com/2011/04/04/new-jersey-report-details-lps-creation-of-false-documents/

30,000 QUIET TITLE ACTIONS ALREADY FILED AND NUMBERS ARE CLIMBING SHARPLY Link not working.

ARIZONA LAW MEMO - ATTACKING THE SALE http://livinglies.wordpress.com/2011/04/04/arizona-law-memo-attacking-the-sale/

Marie, on February 28, 2011 at 4:07 pm said: I have been fighting foreclosure with OneWest and Deutsche Bank. My attorney originally filed the case in state court. The Defendants - One West removed the case to Federal Court - citing Diversity Jurisdiction. This was done in July of 2010.

So we go through discovery and all these Summary Judgements, Response of Summary Judgement and so on an so forth.

The Judge finally stated that he wanted the a Certified Question on MERS to go to the Supreme Court just last week. The Judge also told the defendants - One West - that if they objected - he would over rule and still push this to Supreme Court.

So now after 6 mo in Federal Court - the Defendants have decided they want me and my attorney to dismiss and go BACK TO STATE COURT!

Is this even allowed? Also I will not allow a dismissal since the Judge already ruled NO BOND, NO PAYMENTS during the on going Federal Case. . The defendants want to go back to State Court for Judicial Foreclosure (since we are a Non Judicial State.

I think the Judge would possibly object - since they removed this to Federal Court in the first place and stated their claims for Diversity Jursidiction. But perhaps the Judge might Remand this back to State. But why when the Defendants thought they would get a favorable decision in Federal Court. They can't have it both ways!

Just curious if this has happened to anyone else and what was the outcome.

I know they are afraid that if this gets ruled in Supreme Court that MERS has no standing - the Attorneys for the Banks are screwed since they will lose business from the Banks at that law firm. Plus MERS is so unsettled and this law firm doesn't want to be the guinea pig and trying to save their butts.

Any response from anyone?

Abby in CA, on January 27, 2011 at 1:21 pm said:

18 NOTARIES TAKE THE FIFTH!!!

http://www.scribd.com/doc/47682943/NOTARIES-TAKING-THE-FIFTH-DUE-TO-FORECLOSURE-DOCUMENT-FRAUD

alrady40@yahoo.com, on December 13, 2010 at 5:44 pm said:

Neil? wanted to get this posting to you? One of the guys in AZ had an interesting response from the secretrary of state; re: robo signatures
http://zingervotes.blogspot.com/2010/12/alleged-notarization-issues-homeowner.html

by SaveAmericaOne April 4, 2011 5:45 PM EDT
Borrower is actually entering into an undisclosed investment contract, not a loan
http://livinglies.wordpress.com/2011/03/31/borrower-is-actually-entering-into-an-undisclosed-investment-contract-not-a-loan/

EDITOR'S NOTE: I'm not sure who the actual author of this piece is, but it is very good in many places. Probably John Korman. The point, as we have stated here before, is that there were no loans because the money advanced by the investors was subject to a set of documents supporting a bond in which the homeowner was not the payor and where the homeowner never signed. The homeowner was subjected to a set of documents that failed to disclose the real party or the real terms of the entire transaction - a black letter requirement of the truth in lending laws.

The purpose of the transaction was for the investment banks to get money from the investors and to get a signature from the homeowner without connecting the two. The real purpose of the transaction was an investment scheme wherein the intermediaries took everything - the money, the property and the gains from credit default swaps, insurance and government bailouts.

Thus the intent of the investor to lend money for residential mortgages, and the intent of the homeowner, to get a loan for his home, was never accomplished and was effectively thwarted by the attempt to cover tracks by refusing to document the trail of the money. The actual documents offered in foreclosures document a fictitious trail - one in which no money ever changed hands.

The homeowner, without consent or knowledge, was converted from a borrower to a securities issuer and the investor was converted from being a part owner in a valid REMIC pool to being the alleged buyer of the security issued by the homeowner. Hence the right of rescission and damages arises not only from TILA but from the SEC rules and regulations. And the time for filing doesn't start to run until the parties had enough information to either know or where they should have known of the fraud.

John Korman 934 SW 21st Way Boca Raton Florida 33486 (561) 372-1741 (561) 350-0828

February 16th 2011 This letter is addressed to the Attorney General in each great State of America.

Alabama; Luther Strange Alaska; John J. Burns Arizona; Tom Home Arkansas; Dustin McDaniel California; Kamala D. Harris Colorado; John W. Suthers Connecticut; George C. Jepsen Delaware; Beau Biden III Florida; Pam Bondi Only Georgia; Sam Olens Hawaii; David M. Louie Idaho; Lawrence G. Wasden Illinois; Lisa Madigan Iowa; Tom Miller Kansas; Derek Schmidt Kentucky; Jack Conway Louisiana; James D. Caldwell Maine; William J. Schneider Maryland; Douglas F. Gansler's Massachusetts; Martha Coakley Minnesota; Lori Swanson Mississippi; Jim Hood ; Missouri; Chris Koster Montana; Steve Bullock Nebraska; Jon Bruning Nevada; Catherine Cortez Masto New Hampshire; Michael A. Delaney New Jersey; Paula T. Dow New Mexico; Gary King smclure@ago.state.al.us attorney.general@alaska.gov consumerinfo@azag.gov consumer@arkansas.gov piu@doj.ca.gov attorney .general@state.co.us attorney.general@ct.gov Attorney.General@State.DE.US provides an electronic on-line Form agolens@law.ga.gov hawaiiag@hawaii.gov kriss.bivens.cloyd@ag.idaho.gov ag_consumer@atg.sta te.il. us webteam@ag.state.ia.us general@ksag.org attorney.general@ag.ky.gov Adminlnfo@ag.state.la.us attorney.general@maine.gov consumer@oag.state.md.us ago@state.ma. us. attorney .general@state.mn.us ccano@ago.state.ms.us consuhier.help@ago.mo.gov contactdoj@mt.gov nedoj@nebraska.gov aginfo@ag.nv.gov doj-cpb@doj.nh.gov citizen s.serv iees@lps.sta te. nj .us ewood@nmag.gov Iof9 New York; Eric T. Schneiderman NYAG.Pressoffice@oag.state.ny.us North Carolina; Roy Cooper ncogo@ncdoj.gov North Dakota; Wayne Stenehjem ndag@nd.gov Ohio; Mike DeWine comsumerweb@ohioattorneygeneral.gov Oklahoma; E. Scott Pruitt diane.cl»y@oag.ok.gov Oregon; John Kroger consumer.hotline@doj.state.or.us Pennsylvania; William H. Ryan, jr info@attorneygeneral.gov Rhode Island; Peter Kilmartin contactus@riaj.ri.gov South Carolina; Alan Wilson info@scattorneygeneral.com South Dakota; Marty J. Jackley consumerhelp@state.sd.us Tennessee; Robert E. Cooper, jr tnattygen@ag.tn.gov Texas; Greg Abbott Greg.Abbott@oag.state.tx.us Utah; Mark Shurtleff uag@utah.gov Vermont; William H. Sorrell atginfo@atg.state.vt.us Virginia; Ken Cuccinelli, II mailoag@oag.state.va.us Washington State; Rob McKenna belcrc@atg.wa.gov West Virginia; Darrell V. McGraw, jr consumer@wvago.gov Wisconsin; J.B. Van Hollen 608 267-2779 faxed Wyoming; Bruce A. Salzburg djourg@state.wy.us

My name is John Korman. continued in next comment...

by FLLOwner April 4, 2011 5:37 PM EDT

I Live in Ft Lauderdale. My house is worth 116K they say and I have a Home Equity of 48K with Citi Corp to top it off! I paid 155K for the house 9 years ago. I am at my wits ends. I want the mortgage to be reduced--- no one talks to me. Dare I walk away and not pay them anything?

I teach and have not had a raise in 3+ years. I am 60 and want to retire. I feel screwed by Citi Corp and the Governor of the Sunshine State for his demeaning of teachers here.

What do I do? Any viable leads would help. Reply to this comment

by SaveAmericaOne April 4, 2011 5:27 PM EDT Scott Pselly Please interview Neil Garfield and story on ForeclouseBlues who we depend upon who have the facts you don't have.

Sorry but you don't have knowledge and spun a story around information based on spin not facts.

We need you even if you think we are deadbeats.

We sit before the court where the SERVICER, Wells Fargo becomes a Securities Administrator during default event and (late payment - modifications - forebearance - all allow foreclosue to continue) and Wells Fargo Bank NA (a private brand label) as SERVICER also becomes SECURITIES ADMIN and turns - actually presents debt to Trustee as Plaintiff to collect and the loan is not in the Pooling and Servicing Agreement, the Loan Trust does not exist as a legal entity in the US and therefore is foreign and the party before the court without evidence spits upon the Federal Republic.

How I know your not educated in these matters you keep saying 'BANK'

Stop saying 'bank' its SERVICER who as SELLER sold discounted wholesale LOANS and did not securitize the transactions. Stop the spin report the facts we need you.

973-347-3475

Mary Cochrane http://www.saveamericaone.com

Linkedin Mary Cochrane Reply to this comment

by pjjoran April 4, 2011 5:13 PM EDT

Can you tell me why Chase so not work with it's people I've been trying to modifiy for the last 2 1/2 years calling them before getting behind in payments, I have called them at less 100 time never getting the same person, and when I asked to talk to just one person they say there are not enough claim servicer to just get one, after 47 time of sending in paper work they still not have my papers yet. I have asked for to see my note nothing yet and I've ask twice now,Then they told me if I want to see my doc or have copies it would cost me 20.00 a page what's up with that. If I did a crime I would have to go to jail, why dont the banks,I dont get it. can someone tell me what really going on.Chase should have to go to jail, and they should have to forgive every one they have loans with.

Reply to this comment

by TrueValueMetrics April 4, 2011 6:31 PM EDT

The behavior of the financial and corporate community over a very long time has been a disgrace. Yes, they should be in jail ... but the problem is that rule of law does not apply to any organization that can afford top tier attorneys ... and the rich and powerful write the rules and laws anyway!

by pjjoran April 4, 2011 5:11 PM EDT Can you tell me why Chase so not work with it's people I've been trying to modifiy for the last 2 1/2 years calling them before getting behind in payments, I have called them at less 100 time never getting the same person, and when I asked to talk to just one person they say there are not enough claim servicer to just get one, after 47 time of sending in paper work they still not have my papers yet. I have asked for to see my note nothing yet and I've ask twice now,Then they told me if I want to see my doc or have copies it would cost me 20.00 a page what's up with that. If I did a crime I would have to go to jail, why dont the banks,I dont get it. can someone tell me what really going on.Chase should have to go to jail, and they should have to forgive every one they have loans with. Reply to this comment

by PA5010 April 4, 2011 5:10 PM EDT I'm still wondering why that Notary isn't in jail. Doesn't her state have notary fraud laws? Reply to this comment

by kcsteak2 April 4, 2011 4:58 PM EDT Scott Pelley, the mortgage sector was forced to take on worthless loans. Thanks Barney, Dodd and Clinton. These marxists have no morals. Reply to this comment

by jaded17 April 4, 2011 5:15 PM EDT kc - time to do your homework.

by josephp5 April 4, 2011 5:20 PM EDT Baloney. No one forced them to take on loans. This is just a Republican talking point, to deflect blame from the banks that they bailed out for $787 billion (yes, Republicans---the TARP bill was passed in October 2008 under the urging of then-President George W. Bush). Think about back to 2005---could you open your mailbox without having about 10 pieces of junk mail fall out urging you to refinance? Could you listen to AM radio for more than 10 minutes without hearing a Countrywide refinance commercial? I can still hear the pitch from back then in my head: 'Rates have never been lower! Refinance now!' Do you really believe that these companies were being forced to push all that refinancing because of some evil government law foisted on them by Democrats? No. They did it because of a Republican law (the Graham Leach Bliley Act, to be precise) that allowed them to repackage the loans to make them stink less (Collateralized Debt Obligations, or CDOs), insure them with dubious insurance policies (Credit Default Swaps, or CDSs), and then sell them to suckers. And when the whole thing collapsed, the very people at fault got bailed out by taxpayers (thanks to the Republican pushed TARP). Then they made up a nonsensical story for the rubes about how some Barney Frank law forced them to do all of this.

by moliar April 4, 2011 5:33 PM EDT NO,Thank you bush for deregulation.

Read more: http://www.cbsnews.com/8601-504803_162-20049744.html?assetTypeId=41&blogId=&tag=contentBody;commentWrapper#ixzz1Ib7KST5V ///////////////// COMMENTS ON: Mortgage mess: Who really owns your mortgage? previous 1 2 3 4 ... 21 next

by Noblelion777 April 4, 2011 4:58 PM EDT For those who not yet seen the movie 'Inside Job' it is a MUST SEE MOVIE. It is the best explanation of what has been going on with the love affair between the Banks, the Government and Wall Street. Reply to this comment

by Wayne_TPILAW April 4, 2011 4:52 PM EDT

There is a group out of Reno Nevada that has launched Multiple Civil Litigation Mulit-Joinders against lenders and are assisting homeowners to, not only stay in their homes, but get their homes free and clear. Look them up at www.tpilaw.org.

Additionally, WERE YOU AWARE...?

1) Bank of America(BOA) was recently sued by the AG from the state of Nevada(December 2010 - Case No. A-10-631557-B). In this litigation the Nevada AG interviewed former 'Phone Room employees (Customer service reps)' and one former employee noted: '...That they Frequently misinformed borrowers about the requirements for modifications, the status of their requests, the likelihood of foreclosure, and even the fax numbers to which to send their documents.

...When checking a borrower's status I often found that the modification request had not been dealt with or was so old that the request had become inactive. YET, I was instructed to inform borrowers that they were 'Active and in status.'...One time I complained to my supervisor that I felt I was always lying to borrowers. Her instructions in response were just to give the borrowers their status and to tell them that they are 'in the process', in spite of the fact that the computer showed that nothing was happening'.

Another former employee noted:

'From what I've seen, a borrower can get different explanations from every BOA representative, because our supervisors don't make (pertinent) information clear...and nobody at BOA seems to care what we actually say to the borrower, as long as we get them off the phone.'

There are boatloads of law suits running against lenders right now and, in case your wondering, the most effective means of kicking some serious Lender/ Servicer hind quarters that I have experienced is the Multi-Joinder Civil Litigation law suit. I KNOW that the lenders and servicers are deceptive in their conduct and treatment of us - The American Homeowner. I wanted to keep my home and I am certain that most homeowners, given the opportunity, want to keep their home as well. I know that I tried in 'Good Faith' with my lender and that you have likely tried in 'Good Faith' as well. I tried for a modification. It was a waste of time. I was given the complete RUN AROUND by the servicer's customer service representatives who clearly stated that they would not tell me who owned my loan as they did not know.

Dealing in 'Good Faith' requires that BOTH parties participate in order to achieve the desired results. I believe that Lenders and Servicers have ZERO interest in seeing you stay in your home. They shall lie, cheat and or steal if it suits their purposes. Believe it. We do not have any friends in the Government or banking sectors. NONE. Reply to this comment

by kcsteak2 April 4, 2011 5:12 PM EDT I can't believe your ignorance by stating the homeowners will get their houses 'free and clear'. Nothing is life is free, except welfare, section 8 housing, food stamps, headstart, utility funds, earned income refunds, I hope I haven't forget anything, but I'm sure I have.

by Dog_Lover_Katie April 4, 2011 5:23 PM EDT KC: Yes, there ARE homeowners who are getting their homes 'free and clear.' If the mortgage doesn't exist, the bank no longer owns it. How can a bank foreclose on a home if they can't furnish proof of ownership?

by josephp5 April 4, 2011 5:24 PM EDT Hey kcsteak2, speaking of free and clear, don't forget the income taxes paid by Citibank, Bank of America, GE, Boeing, and ExxonMobil. That was all free and clear as well---i.e., those companies paid no income taxes in 2010.

by mdking777 April 4, 2011 4:21 PM EDT For California residents only: There is a financial group(Call Pat) that has been studying this for years. They work with attorneys who specialize in this area. I would recommend calling them. 916-743-3246. Reply to this comment

by trp1979 April 4, 2011 4:11 PM EDT I seen the episode lastnight and was very surprised at what I saw. The Documents that I saw was identical to the one that my grandmother received from the judge when she went to court.In her situation Citi Financial bought back her loan and evicted her from a house that should have been paid for almost 6 years ago. I need to know whom I need to talk to in order for us to atleast get her back in her house or in another home for the state of Georgia. Reply to this comment

by Andreajoy99 April 4, 2011 3:24 PM EDT My financial hardship started and ended on Sept 15 , 2008 10 days after i closed escrow. My hard work of 25 years finally bought my sercity egg. For 9 months i ran in circles with PHH Mortgage who are servicing the loans for Fannie Mae. FInally I wrote an emaill to Fannie Mae and Phh letting them know that they were not doing what they had promised the government to make Home loan modifications, and I C.C'd this email to Channels 2,4,5,7,9,11,& 13 60 minutes, VP Joe BIden, Barney Franke, Diane Feinstein. Well no-one contacted me except PHH saying that now 3 hours after i emailed them I QUALIFIED NOW! They made an illegal modification by not including my house taxes then backed me into the corner to pay them or they'd send my house to auction. THis is a much longer story I'm trying to give you the Reader's DIgest version. But I want to be part of a class action suit, so If there's anyone with wny information please let me know. Andreajoy99@yahoo.com Reply to this comment

by scoreym April 4, 2011 2:49 PM EDT TO SCOTT PELLY PLEASE CAN YOU TAKE THIS ONE STEP FURTHER AND EXPLAIN THE THE AMERICAN PUBLIC ABOUT CREDIT DEFAULT SWAPS AND ITS CONNCECTION WITH SERVICER INDUCED DEFAULTS AND HOW THIS MESS STARTED IN THE FIRST PLACE THE BORROWER NEEDS TO KNOW THAT SERVICERS DO NOT HAVE A FIDUCIARY TRUST WITH ANY BORROWER ONLY WITH THE TRUST FOR THE INVESTORS. I THINK THAT THEY NEED TO UNDERSTAND THAT WE THE BORROWERS ARE WILLING TO DISCUSS OUR DEFAULT WITH ALL INVESTORS WHO CAN SURELY DO A FORENSIC AUDIT ON MY CLOSING SO THEY CAN FORCE THE BANKS AND OPEN UP THE REAL FRAUD BORROWERS NEED TO GOOGLE THE ALLSTATE LAWSUIT AGAINST THE BANK TO UNDERSTAND WHAT TOOK PLACE. THERE IS NO SUPEONA POWERFUL ENOUGH IN ANY JURISIDICTION TO BREAK OPEN THE CREDIT DEFAULT BENEFICIARIES, IF THEY CAN DO THIS THEN THE READ FRAUD WILL CRAWL OUT FROM UNDER THE ROCKS. I HAVE THE POSTER CHILD OF FRAUDULENT, SERVICER INDUCED FORECLOSURE CASE AS MY NOTE DOES NOT EVEN MATCH MY MORTGAGE TO START. BORROWERS NEED TO CONTACT THEIR STATE AG, OFFICE OF THRIFT SUPERVISION, FEDERAL TRADE, THE COMPTROLLERS OFFICE AND OF COURSE THE NEWS MEDIA. SCOTT YOU ARE VERY BRAVE BRINGING THIS TO THE PUBLIC, MY HAT IS OFF TO YOU BUT WE STILL HAVE A WAYS TO GO. Reply to this comment

by fredelam April 4, 2011 2:38 PM EDT MEARS has foreclosed on millions of homes and the courts have said they had no right to do so. Class action lawsuits should be filed to get these houses back. What if a house was foreclosed by MEARS and the Bank sold the house to someone else and the orginial owner wants the house back. Who is responsible? I know. Fred Elam 901-596-9902 Reply to this comment

by DantheGreyII April 4, 2011 2:37 PM EDT Here it is folks and this is not legal advise but sound advise if you stay in the fight.

Do not accept any offer of a loan modification (if you're one of the lucky few to actually get a trial mod. offer from you're pretender lender)until the entity claiming to be the beneficiary, holder, servicer, etc., of your mortgage note until you know for sure that they are indeed the entity that has standing to make the offer.

Yes, I know, finding out who really owns the title is one of the major issues in this mortgage crisis to date but if you sign a loan modification agreement with the wrong entity, guess what.....that entity has just acquired legal standing.

Albeit, by fraudulent means, they now have your signature on a new set of documents giving them god like powers over your home. Power to securitize, assign, sell and manipulate you and your property all over again.

Use a 'Qualified Written Request' pursuant to RESPA, Section 6, seeking the paper trail behind their claim on your property: Chain of Title and note; assignments (legal assignments); chain of custody of all the documents along with certifications, dates and by whom. And finally, who actually has custody of your loan and is it the same entity who is seeking to modify the note or foreclose on your property

I believe RESPA requires that your 'QWR' be acknowledged within 20 days and resolved within 60 days. To ignore your 'QWR', or to stonewall by not answering it effectively is a violation of federal law and actionable in a court of law.

I'm just suggesting that you know who you're dealing with before you're mislead, yet again, into a fraudulent agreement with these pretender-lenders.

Of the 15 or so 'QWR' that I personally know were submitted to lenders such as Wells Fargo; BAC/Countrywide; JPMorgan and a couple others, only 8 received acknowlegments and out of those 8 only 5 received answers and only 2 of those answers met with the requirements of RESPA.

My personal 'QWR' sent to BAC/Countrywide was acknowledged after 28 days (one of those 'Oh well' moments), however, BAC failed to actually resolve my issue or even answer the request, not late but not at all.

I have stopped negotiations with BAC and its so-called Home Modification Servicers, they already denied my modification for the stated reason that my newly calculated mortgage and escrow payment was 31% or less than my verified income and then sent me verification showing that my calculated mortgage and escrow payment, was in fact, 64% of my verified income, so I could have qualified twice under the HAMP program.

I'm not suggesting that you cut off your nose to spite your mortgage but if you can stay in the fight don't let the wrong set of thieves get away with another fraud.

No proof of ownership of the note, no legal standing to foreclose.

60 minutes, proud of you, better late then never but lets see if you can stay on top of this. Arrests need to made, not meeting to break the ice. Screw most of the AG's and the banks horse they rode in on. Only Arizona and nevada get my vote, those two are the only States that didn't wait on this bs meeting and have already filed cases against several of the major Banks.

Good luck everyone, lets stay in the fight for as long as we can.

If my Wife ever comes out of the coma she's been in since 2003 as a result of a brain anuryism, which is the hardship that was at the beginning of our problems with the so-called lenders, she would absolutely kick my butt if she thought I'd given up without a fight.

Pro se and holding for 55 months now. Reply to this comment

by scoreym April 4, 2011 3:01 PM EDT KEEP UP THE FIGHT DO NOT MODIFY CAUSE IF YOU DO THEN THEIR PAST FRAUDULENT ACTS CANNOT BE USED I THINK I HAVE BOA ON THE RUN THEY HAVE VIOLATED THEM ALL BUT WASHINGTON STATE IS TRYING TO GET THE BANKS TO PAY 250.00 AND THEN THEY DO NOT HAVE TO PROVE OWNERSHIP TO FORECLOSUE IS THAT INSANE OR WHAT IT IS CALLED BILL 5275 HORRAY OR ARIZONA AND NEVADA THEY HAVE MORE ???? THAN ANYONE IN THIS FIGHT I WISH YOU THE BEST AND AS FOR YOUR WIFE MY HEART IS WITH YOU IF I CAN DO ANYTHING TO HELP LET ME KNOW COREY

by Jlukawitz April 4, 2011 3:46 PM EDT I have done MULTIPLE RESPA requests. In my latest round I got a response, and BANK OF AMERICA wrote in writing that they do not own my loan instead claiming Bank of New York does. I requested a copy of their servicing agreement and contract showing that BofA could legally collect on the loan, they stated they would not provide.

Additionally, I have been dealing with a 'point person' at BofA, a woman named Rhoda Simmons who is overseeing a modification proposal. On March 23, 2011 she called to tell me that the paperwork was complete. Today (4/4/2011) I got a FedEx letter requesting ALL THE SAME INFORMATION ALL OVER AGAIN. I called Rhoda Simmons, and she stated she would could to inquire.

In the meantime, check out www.RhodaSimmons.com or www.BofA-Fiasco.com to start following my journey to get some relief from Bank of America.

SOMEONE IS GOING TO LISTEN TO ME AT BANK OF AMERICA.

And oh, the company that is listed as the LEGAL owner on the doc's is out of business and I can prove it.

Good Luck BofA, I'm coming after you.

by Dog_Lover_Katie April 4, 2011 5:16 PM EDT I believe the mortgage servicing company has to have the ORIGINAL note, not just a copy. They sent me a stack of papers in reply to my QWR. This was just 'noncompliance,' not really giving me any new information. (I have the same paperwork.) According to them, the paperwork was recorded in June 2006; however, the assessor's office has the last recorded date as May 1999, which was the date of the first refinance. As far as I'm concerned, it wasn't actually filed in 2006. MERS was used to avoid paying the filing fee! When they notify me of the sale date, I'm going to file an injunction naming everyone, including MERS, as defendants. I'm in a nonjudicial state but it will become judicial with this filing. A really good PDF book is available online, 'Walk Away' by Doug French. This book is FREE.

by MeganVB April 4, 2011 2:15 PM EDT Four 1/2 months ago Bank of America dismissed their foreclosure case against us when we demanded the chain of title. About a year ago we had applied for a modification, were told we were eligible and given a lowered payment, just to be denied after 6 months and told we now owed the bank back pay and fees - if you've been following this mess, you have probably heard this story before. My husband makes about 15,000 less a year than he did when we bought, and our home is ridiculously under water (about 150,000) so I immediately asked the bank for the note. They sent us a photo copy of our original note with absolutely no chain of title whatsoever. At that point we stopped paying them. They proceeded to file foreclose against us, and when I sent in the answer letter to their foreclosure claims, I made it very clear that we did not know if Bank of America had the right to foreclose on us because we have not seen the paperwork proving they own our loan, and that we intend to fight for it. Well, they dismissed their case against us, and we haven't heard from them since. Now, I don't really know what to do next - I wasn't really expecting BofA to drop their case against us. I am not a lawyer, and we have been doing our best to fight this on our own. Looks like maybe I was right after all, and they don't have the right to foreclose! Just waiting now to see what these 50 states AG's do. ?!?!? Reply to this comment

by MeganVB April 4, 2011 2:13 PM EDT Four 1/2 months ago Bank of America dismissed their foreclosure case against us when we demanded the chain of title. About a year ago we had applied for a modification, were told we were eligible and given a lowered payment, just to be denied after 6 months and told we now owed the bank back pay and fees - if you've been following this mess, you have probably heard this story before. My husband makes about 15,000 less a year than he did when we bought, and our home is ridiculously under water (about 150,000) so I immediately asked the bank for the note. They sent us a photo copy of our original note with absolutely no chain of title whatsoever. At that point we stopped paying them. They proceeded to file foreclose against us, and when I sent in the answer letter to their foreclosure claims, I made it very clear that we did not know if Bank of America had the right to foreclose on us because we have not seen the paperwork proving they own our loan, and that we intend to fight for it. Well, they dismissed their case against us, and we haven't heard from them since. Now, I don't really know what to do next - I wasn't really expecting BofA to drop their case against us. I am not a lawyer, and we have been doing our best to fight this on our own. Looks like maybe I was right after all, and they don't have the right to foreclose! Just waiting now to see what these 50 states AG's do. ?!?!? Reply to this comment previous 1 2 3 4 ... 21 next

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by jw1410 April 4, 2011 2:02 PM EDT Here is how to stop any auction or sheriff sale immediately anywhere in the United States - File a Chapter 13 Bankruptcy. This is easier than most people think. One need only file the initial paperwork - takes 15 minutes and can cost as little as $40. If one files just the initial paperwork and does nothing more, the auction is stopped - by Federal Law - for 4 to 6 months. This may give the homeowner more time to work something out with the bank. People don't know this.

Then lawyers charge $3,000 to file a full Chapter 13 Bankruptcy but people who choose this route can file the basic paperwork on their own for just $40 and it is guaranteed to stop the auction provided that it is filed before the auction takes place. For those who want to learn more have a look at our book, The Stop Foreclosure Auction Toolbox where we discuss a number of techniques that can delay an auction for months or even years. People educate yourselves. The information is out there. J. Wallace www.foreclosure777.com/video1 Reply to this comment

by noloyalisti April 4, 2011 1:56 PM EDT The banksters of America are the biggest crooks the world has ever know. These are people who would sell their own moms for more money. At some point we are going to have to shut them down and seize their assets. The government has been corrupted and co-opted by the banksters so we cannot depend on them. The plans are in place and will be further discussed today all over the country on the We Are One day of action. Reply to this comment

by janmil April 4, 2011 3:01 PM EDT When asked why he robbed banks, notorious bankrobber Willie Sutton said, 'Because that's where the money is!' It seems like the banks took ol' Willie's words to heart and began robbing themselves of the value of their own assets. What fools... unless their customers and the taxpayers are extorted into refilling the vaults so they can do it again.

by newyorkjeff April 4, 2011 1:46 PM EDT I have Bank Amer mortgage. Bought house $130k with 30 down. I watch auction.com and all the foreclosures. I lost one to GMAC (ditech). When I bought the appraisal was 350k and took a 200k mortgage. They foreclosed and I did not fight. Then realtor listed it and in the end they sold it to the neighbor for $115k and paid the realtor $8k etc so they really got $100. Do you think they would deal with me? I could have kept it for that kind of money. Anyway with Bank Amer because I have not paid they say I now owe $160 on a $100 mortgage. And they think i have 60k to pay them (right) and the mod they suggest is to now make payments on $160 mortgage (right) when we all know they will sell it for $45,000 at auction.com So I just turn 62 - I made cash offer: I will get a reverse mortgage today and give it to me for that amount; i.e. todday' appraisal. NO friggen way!!! Not a chance. I can maybe get 75k cash for them -and give it to me free and clear - better than 35 to 45k from a cash rich person. My rich friends laugh as they are buying foreclosures for 10 cents on a dollar or even less. But they will not work with the homeowner - you are the LAST and no way. Reply to this comment

by mdking777 April 4, 2011 1:39 PM EDT For California residents only: There is a financial group(Call Pat) that has been studying this for years. They work with attorneys who specialize in this area. I would recommend calling them. 916-743-3246. Reply to this comment

by fightforit April 4, 2011 1:36 PM EDT To all of you that do not know how to look up their mortgage information- It is public record at your County Registry of Deeds. Go you your County Registry of Deeds website. Follow the directions to see all of your mortgage info. Many of you will see that it is not up to date. Especially if you see MERS- mortgage electronic recording service. This was a way for the banks to hide info and not pay your local county a fee to record. Those lost fees have caused a loss of much needed income for all of our communities. The Suffolk County Registrar in Ma. is not happy about that and has filed a lawsuit. Contact your local Registrar and ask him why hasn't he done the same to recover that money that our communities need instead of going to bonuses for Bank employees. Reply to this comment

by vrl0406 April 4, 2011 1:19 PM EDT Bank of America has to be the worst of them all. I have a good one for you! I am self employed and struggle every month to keep the bills and house payment paid. My home is currently worth less than I owe but I keep paying! I even took money on 3 credit cards to keep afloat. One of the largest is now owned by Bank of America. I owe them about $20,000 on it. It started out at 8% and is now at 19.99% because I was ONE day late on it 6 months ago. I called them to see if I can lower it, as the payments are over $500 per month! and you know what they said, Sorry, but you just 'are not elliglbe for a reduced rate right now'. I asked the girl what I should do as I cannot keep paying my mortgage and all of this and she suggested I find a way to pay off the credit card! What a joke! Of course, I am maxed out on everything and while I have NO late payments, my credit score has dropped so low, I never get any offers for anything anymore. SO sad! I try to do what is right and Bank of America just gets richer off of me. I hope they get what they deserve one day !! Reply to this comment

by onejazzyjenn April 4, 2011 1:54 PM EDT I'm RIGHT THERE with youvr10406! Did a 'Trial Modification' with Bank of America under the 'Home Affordable Mortgage Program'...you know the one they call the 'Obama Plan' that gave Bank of America $9.6 BILLION to fund? They forced me to escrow insurance and taxes and after a year sent me a form letter stating 'YOU have not documented a financial hardship that has reduced your income or increased your expenses, thereby impacting your ability to pay your mortgage as agreed' and then sent me a NOTICE OF INTENT TO ACCELERATE and they want $3500.+ in 15 days (to cover the deficit in the escrow) or they will foreclose. This after $20,000. in legal fees for a divorce & child custody and contempt orders because he doesn't pay it, losing my health insurance and acquiring $20,000. more in medical bills over the last year, but I'm not having a financial hardship according to Bank of America????

by BOAsuxs April 4, 2011 2:44 PM EDT I never care enough to reply to anything online but after reading everyone's stories about BOA this is ridiculous. They did the exact same credit card scam with me and as well before I finished making the trial payments for Make Home Affordable, sold half of my 2-part mortgage to another company and told me that they would not modify the second part of my loan until the first part was successfully modified except of course that they had sold the second part of the mortgage and I would have to make my own deal with them. Of course in the beginning I asked a hundred times if this Make Home Affordable Deal was for both halves of the mortgage and was assure that is was, but this is useless because that was over the phone. I'm in the process of filing for bankruptcy now and plan to give them as much hassle as possible. But anyway, why can we not do a class action lawsuit against BOA? Anyone? Every person I meet has the same stories about BOA.

by splam April 4, 2011 1:10 PM EDT Please stop calling this 'sloppy' work. This is fraud and it should be fully prosecuted. Unfortunately, our government (bought and paid for by these banks) is an accomplice to these crimes and not acting on behalf of citizens. Bankster crimes indeed pay, big time. Reply to this comment

by cindydream April 4, 2011 1:06 PM EDT You people throw homeless veterans in your horrifying jails for the crime of......SLEEPING OUTSIDE, and these Banksters are still living it up on unlimited bailouts and fraud..... Unbelievable! Reply to this comment

by MacKaroon April 4, 2011 6:15 PM EDT cindydream: Just exactly who are you addressing when you say 'you people'? For your information, the American public did NOT agree to bail out the banks, and most of us would love to stop the government and bankers from all the crap they do and have been doing! This is much larger and more insidious than you think - way beyond just the U.S. government and U.S. banks - and if you think that (whatever country you happen to live in) is not in some way connected to, or controlled by these banksters, you are sadly mistaken. To use a quote from the movie Interview With The Vampire - 'You just wait your turn!'

by cannuc April 4, 2011 1:06 PM EDT The way these judges are ruling anything goes, Series trust mortgage investors can foreclose. Mortgage servicing companies can foreclose, And the Original promissory note holder can foreclose. That's is why all real estate schools teach that ONLY the promissory note can be assigned, not the mortgage. The moment the mortgage is moved or sold to another company for servicing but the Promissory note stays with the original Granter, that same mortgage becomes an unsecured debt. However if the Promissory note is transferred there are laws and regulations that must be followed according to the state and county where the Promissory note was originated because there are fees and monies to be collected when the promissory note is transferred. Whoever holds the Original promissory note with the proper paper trail is the entity who holds the right to foreclose. http://abrahamsays.blogspot.com/ Reply to this comment

by tobyshooter April 4, 2011 12:32 PM EDT I do not know if our documents were real or not. We both became unemployed within six months of each other. We depleted our 401K's trying to pay the mortgage. We applied for a mod, the paperwork was mindboggling, we weren't far enough behind in our mortgage payments so we let the payment go. Next telephone call out mod had competed underwriters we looked good just start making the payments up. We sent four month payments in. We were told to make one more and we were good to go. We made the one payment the same day. Within a week the payment had been credited back to my bank account. We called and were told the mod had been denied and we were in foreclosure. That was August of 2010 and we had seven months of postings in the local paper and seven different sale dates. The last sale date we had was March 3, 2011. I am not sure if our house sold but this is cruel unusual punishment for someone that was out of work. I would love to join a class action suit against BANK OF AMERICA, they refused to help us in any way.

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by jjpfcisdhsgov April 4, 2011 12:30 PM EDT Okay after 15 minutes of running through password and username fun, I'm ready to submit my comment. My story is similar to offinitztime except my loan is double that one and I've been told I qualify for nothing because Bank of America doesn't want to work with me anymore becasuse I've refused to accept their increased loan offer of adding interest and arrears and making the loan more than what it originally was. I also like the comments of klb2006. etoddler is full of it and should shut up. He has no idea what it's like to have the rug pulled out from under your feet and the people who did it go free. Someone owes me $200 bucks is nowhere near what homeowners in our situation are going through. He says he works in that industry. He's probably part of the cause of what happened - like they showed on 60 Minutes! No wonder he's saying what he's saying! He probably should be in jail himself! As a federal employee, I feel pretty well shoved against the wall. My wife used to be a federal prosecutor! He health went down the drain! She's now on federal disability at a fifth of what she used to make, and nobody cares, least of all the federal government, who bailed out these crooks at tax payers expense and is doing nothing to help any of the public who help put them in office and are going through tough times of their own! Yeah, if it was us and the shoe was on the other foot, we'd all be in jail right now. But, no, not the banks! Let's give them more money to keep the economy rolling! These crooks aren't keeping the economy rolling! They're stuffing their pockets with money and the hell with the rest of us! I've written my congress person - in fact, many congress people - to presidents Bush and Obama - to every newspaper and agency I can think of - even had a case opened at the Comptroller's Office of the Currency, who is supposed to oversee the actions of Bank of America - and nothing can be done to assist my family. Bank of America can't find my original papers, which I have a copy of, so they mailed me a fraud copy. I can't even find anyone to help me, because I don't have thousands of dollars to pay them. The only think that has helped my family in someway so far is to file for bankruptcy, which is still pending. After that, I don't know what'll happen. I just have to wait and see. Because there is no one else out there who is willing to do anything on behalf of people like me. The old story is true - you don't know what the other person is going through unless you've walked a mile in his or her shoes. We seem to care more about the people fighting for freedom here, there and everywhere, from Afganistan, Iraq, Haiti, Japan, Iibya, and I agree. We should help those we can, if we can. But right here at home is another story. It's each person on his or her own. We can't our own, how can we pretend to help others, when we can't even help our own? We have a public image to present to the world, that's how. Here, the only time we pretend to care, is during an election year, when all the clowns come out to play and pretend how much they care about us. Watch next year, during the election year! Reply to this comment

by Tiger1over April 4, 2011 12:07 PM EDT I live in CA and have been pursuing a loan modification with Aurora since 2008, following a divorce and chronic illness. It's been nothing more than a game of who will give up first. I receive a generic, 'we are unable to' letter about every 3-6 months and I submit new paperwork. I have a xerox paper box filled with copies of all correspondence and paperwork submitted. I was asked about joining a lawsuit, but the cost was $5,000 that I just don't have. A friend of mine, did join the suit and later found out that the attorney had an 'F' raiting with the BBB. I went to the www.mers-servicerid.org and found that both JP Morgan Chase (services by BAC Home Loans) AND Deutsche Bank National Trust (serviced by Aurora Loan Services) are listed as 'Active' on my property. I've never even heard of BAC, before today and have had no dealings with them. This is just crazy? We all see the fraud, but what can we do 'legally' to fight back, pay who/what's right and hold on to our homes? Reply to this comment

by swalk247 April 4, 2011 1:44 PM EDT All of these stories hit home. We have been dealing with Chase Mortgage since 2009. I have 5 folders of papers that have been faxed to Chase trying for a making home affordable loan. It is a joke. One hand does not know what the other hand is doing. You can never talk to the same person twice. We decided to put our house on the market since in Dec. they sent back the trial payment and said we didn't qualify for the loan. We had to get an attorney to get the payoff for us since they were not forthcoming with it. When we got the payoff amt. they had added $18,000 to the balance. That is not missed payments but fees of some sort (they can't explain). Then about 2 weeks ago they called and wanted to start the loan process over. I told them nothing had changed in our situation (my husband is disabled and I lost my job in Sept) but they said this was something new and we should try it. So I sent in the required paperwork AGAIN! That was 2 wks ago and when I call they don't know Jack. The government has got to step in and do something about this. The MHA loans are a joke. Two years of dealing with this and trying to do what is right has ruined my health and I don't know if I can go back to work even if I find a job(I'm 64). So good luck to everyone and remember hell waits for those who are doing this. by peskime April 4, 2011 11:57 AM EDT I found out back in 2008 that our mortgage was bundled up and securitized. I have repeatedly asked for who owns our loan and have never been given an answer from Wells Fargo. I even joined an online group that had us send out letters demanding the information, to no avail.

My husband and I are both self employed and upon the market crash of 2008 knew that our businesses would be impacted by a declining market. He is a contractor and I am a jeweler. Immediately, we asked for a loan modification which took over a year to get, upon receiving it Wells Fargo only gave us one year as we had a five year interest only mortgage that would convert in June 2011.

Early on my husband and I 'lawyered' up because we felt Wells Fargo was giving us the run around and I believe that action is what ultimately got us our modification. A few days ago, we received another letter from WF that as of May of this year, they have reduced our interest rate from 5% to 3% which will only make our payments go up $67 per month from the modified amount we are currently paying. In June, we now have to pay interest and principal, again, this is only for one year. Reply to this comment

by cher7256 April 4, 2011 11:56 AM EDT When are the Bankers going to jail and returning the money they stole from us? Reply to this comment

by moly_b12 April 4, 2011 11:41 AM EDT Good reporting, but someone should inform the representative from FDIC that the loan docs cannot be re-created as she suggested...apparently she doesn't get it. Fight all you homeowners...sue the pants and skin off everyone who had a part of taking your shelter, then demand more. Reply to this comment

by mdking777 April 4, 2011 11:33 AM EDT For California residents only: There is a financial group that has been studying this for years. They work with attorneys who specialize in this area. I would recommend calling them. 916-248-5100. Reply to this comment

by cathymcdaniel April 4, 2011 11:33 AM EDT Good luck learning who owns your mortgage. Example: BOA will refuse to tell you who owns your loan because under their servicing agreement it states they are prohibited to disclose. Reply to this comment

by newPCgadgets April 4, 2011 11:27 AM EDT Why does anyone in these interviews laugh. I can't find a single thing funny about forgery, foreclosure, Wall Street criminals, bank felons and the like. There is nothing funny here, these people should be in fear of prosecution. Oh I forgot, there is no fear of prosecution when it comes to banks. Reply to this comment

by jal2011 April 4, 2011 11:01 AM EDT Great story! This has been on the blogs for years. Its time to do another show on 'Which 401K fund, pension fund etc. that were sold these packages of mortgages BUT they do not have any legal paperwork entitling them to the 'HOUSE'. YOUR PENSION FUNDS WERE THE TRUE VICTIMS'. The servicer broke the law in multiple ways. Reply to this comment

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by etoddler April 4, 2011 10:38 AM EDT I feel for everyone going into foreclosure, and yes I'm in the industry. However, everyone I know that is in foreclosure, even if they are in a 'good' FHA or Conventional, not subprime, loan did not pay their mortgage. That is pure and simple. You do not pay your bills you lose your home. I do think the banks are evil, but it still doesn't make it right to expect that someone should hand you a home becasue of lost original paperwork. The paperwork will either be found (or a copy)or a trail will eventually be found or affidavit's of lost Title will be file. If someone owed me $200 for money I loaned them and then said they won't pay me back because I couldn't find my copy of their agreement to repay, I would be outraged. People have to take responsibility sometimes. When people lose their home in foreclosure, they don't have to pay anyone anything, or pay tax on the deficiency (people with 2 mortgages are a little trickier) and is a safety net for those people. Does everyone know that FHA allows you to buy a home 3 years later. Some people need to take their lumps and move on. Reply to this comment

by klb2006 April 4, 2011 11:21 AM EDT What the banks are doing is illegal. They are criminally guilty of fraud. This is a fraud on the courts and if I had committed this fraud, I'd be in jail, but the banks are free and making more money than ever. How about the banks taking their lumps for a change and moving on instead of the homeowners, many of who were deceived when they either got their loan or bought them house. The homeowners you are attacking, may be guilty of being naive and ignorant, but legally are simply behind on their payments. The banks who cause the biggest fiscal crisis in modern history and thereby rendering millions of people into the unemployment ranks, rather than mitigating their losses and those of their investors by entering into reasonable modifications which would result in better long term returns have instead opted to fraudulently foreclose, because they get to defer their losses into the next quarter or fiscal year, thereby continuing their trading rampages on Wall Street for yet another reporting period.

by moly_b12 April 4, 2011 11:38 AM EDT The banks and other criminals should be taking their lumps at the hands of all the homeowners who have been defrauded !!! Should you get in line as well?

by ky2011 April 4, 2011 12:12 PM EDT I agreee with you that people should take responsibility for their actions. However, you are incorrect with the notion that people can just walk away from their homes. While some states do have walk away laws which do allow people to walk away from their homes without any punishment, most do not. If you are in a state where there is no such law then the bank can go after the home owner for a deiciency judgment. Meaning that if a person walks away and allows the bank to foreclose the bank can still go after the homeowner for any deficiency after the sale. Homeowners should hire attorneys to help them with a mortgage modification or a short sale.

by exhaustedinthefight April 4, 2011 1:53 PM EDT etoddler, your ignorance is a perfect example of the problem. Centuries-old rule of law requires that the ORIGINAL note be surrendered to the Court BEFORE judgment is rendered, to prohibit that note from showing up against the debtor again later. Contrary to what many think, lost note affidavits were meant to be the exception rather than the rule, and were meant to be rendered and accepted in court under STRICT guidelines. They are not meant to be an 'oops' I lost the note somewhere, some way, on some day. Unfortunately, many judges are accepting them that way without question.

Your comparison about an unpaid loan is food for thought, so let's think. If you lost the paperwork proving that I owed you $200, who is irresponsible? And if you didn't lose it, but you aren't exactly sure where it might be, why should I pay you and NOT get back the original note? (Especially if that note is now indorsed in blank: the same as a blank check floating around with collection rights against me to the bearer.)

And if you paid someone to forge a document to give you illegal advantage in court, who should take the lumps? And if you sold that note 30 times and were paid for it 30 times without the other buyers knowing about each other, but you forge a document to force me to pay you too, who is immoral? And if I pledged to you collateral for that loan and 30 other people think their purchase is backed by that same collateral, who bears responsibility for that? And why would any reasonable person pay off that loan to YOU after finding out all of this and learning that you can no longer prove that you own the note that 30 other people think they own? Why would I pay YOU, now knowing that you cannot legally cancel the debt at payoff?

This is far beyond irresponsibility of homeowners. If an employee presents an incorrect legal document once, that can be considered human error. If someone does it twice, it should be grounds for the employee's dismissal. If an employee is INSTRUCTED to do it FOUR THOUSAND times a day (and is assured that doing so is legal), that is nothing less than criminal intent and deserves jail time for those in charge. The legal guts of fraud is proving intent, and with a room full of $10-per-hour employees forging THOUSANDS of documents per day, intent proves itself.

I am completely floored with how ignorant most people are about this issue. And I am shocked that many are falling for the bank quick PR stunt to divide homeowners on this issue. The 'deadbeat' mantra was received, hook, line and sinker, and the paying homeowner watches his or her equity being stripped away, including that which was bought with hard-earned money for down payment. It was the perfect PR move to appeal to the 'paying' homeowner, to keep them propping up the banks with their payments.

WHY is anyone paying the very institutions that have devalued ALL property and brought our country to highly-likely financial collapse? Why is anyone paying another payment until they send a Qualified Written Request (QWR) (Google it, samples are readily available for download) to the servicer to find out if the payment is going to the real owner of the note?

There is no debate here, the largest banks ADMITTED forgery and perjury, for which courts have allowed 'do overs.' Average Americans doing the same thing would already have lost their case and been in jail for fraud on the Court.

Congressional hearings and investigations exposed lie after lie, yet nothing is being done to stop this. MERS is still in operation, loans are still be securitized, and home values are still falling. Politicians and bank executives rely on Americans remaining asleep or ignorant. This is outrageous!

60 Minutes failed to ask the right question: WHY did the banks forge the documents. WHY are the banks not required to produce an authenticated original note or a fully-documented lost note affidavit and the proof of transactions that led to the foreclosing bank's ownership of the note. According to law and regulations, banks are required to have obtained the note by legal transfer and must surrender the note to the Court or explain the circumstance around how and when the original note was lost. If is obvious that the banks cannot or will not do this in many, if not most, cases. Herein lies the complex crux of the matter.

Americans, WAKE UP! Be grateful for the few homeowners and legal experts who are helping to fight these CRIMINAL acts, for reporters who are really investigating and reporting their findings, and for employees who have come forth to tell the truth. Admitted felonies deserve far more than a reprimand and a fine...or a payoff disguised as a 'settlement.' To the executives of these financial institutions and government entities, millions or even billions in fines are just the cost of doing business. I think they laugh all the way to their offshore bank.

by goodmang304 April 4, 2011 3:36 PM EDT etoddler: you seem to be missing a piece of this. Lets use you analogy of loaning someone $200.

-you loaned me $200 -your sister company US Bank is an agent for a big trust -you then sold the $200 to the trust for $250 making $50 for you and $50 for your sister company as the agent -your sister company takes out insurance on my loan for the trust -you take out a Credit Default Swap that says if I don't pay back that $200 you get paid $300

-I dont pay you back

-The trust assigns your sisters company US Bank to service the loan & handle the foreclosure which they're paid fees for -your sister company files and insurance policy on behalf of the trust but never tells them bc it is just a bunch of 401K teachers -your sisters company US bank sells the $200 to some other poor schmuck and keeps the money

so to recap:

you and your sister company got paid the following: -by the trust for the initial loan -a fee from the trust -by the insurance policy for non payment -by your Credit default swap for me not paying you back (unregulated insurance) -by re-selling the original $200 loan to a third party who just wants a foreclosure deal

by EugeneNJ April 4, 2011 10:25 AM EDT Thank you Scott Pelley and '60 Minutes' for shedding a light into the foreclosure fraud. It was excellent because it was not sugar coated. I was suprised that JP MOrgan was not listed as one of the banksters. The foreclosure tsunami was accelerated by the judicial system that allowed all the fraudulent paperwork to be submitted by judges that were either to lazy to read the complaints or had a predetermined RULING ready to be signed. I think it was both. This should be your NEXT followup to the foreclosure events that have brought the economy and the American Dream. The judges are the CRIMINALS. Reply to this comment

by moly_b12 April 4, 2011 11:44 AM EDT the bankers, mortgage lenders, servicers, and the mindless idiots who built the mortgage backed funds are the criminals...the judges rule, they don't make the rules. The lazy ones are the investors who bought into residential mortgage backed bundles...the first line of your financial pyramid includes your home...you don't gamble with it, and you certainly don't purchase investments backed by personal homes. by otnot April 4, 2011 10:23 AM EDT What about the investors who bought the MBS that were not securitized? Isn't that fraud as well? Reply to this comment

by lostat60 April 4, 2011 10:20 AM EDT Is there anyone out there that can help us fiqure out what bank owns Nation Star Mortgage company? There has to be a bank connection right? Please help us. We were going for the short sell and had great buyers that had their credit all ready approved then we were sold to Nation Star. (Sun Trust had us previous) Nation Star won't even talk to our lawyer. Now I'm trying to do some foot work myself as the sheriff sale is April 26th. Please help Reply to this comment

by midnight1120 April 4, 2011 12:58 PM EDT Fortress Investment Group, I think. (And if true, what a name...) See 4th Paragraph in the link. http://finance.fortune.cnn.com/2011/03/14/obama-has-a-mortgage-plan-or-three-worth-reading/

by pammiegirl April 4, 2011 9:52 AM EDT I purchased a new home in Lehigh Acres, FL back in 2006. They performed false appraisals and proposed bogus interest rates (we went from 5% to 12%). This was an investment property that went into foreclosure one year later. Unable to sell or rent the property. One West is another mortgage group that does the same thing. They took over Indymac Bank who did no doc loans and they were seized by the government. One West took over and they charged me outrageous fees for a loan mod. Reply to this comment

by vrl0406 April 4, 2011 12:58 PM EDT Did you know that One West is owned by 2 men... One is the owner of Dell computers. The 2nd, is George Soros, multi billionaire friend of Obama, foe of Fox. Soros was the NUMBER ONE contributor to Obama's campaign. Also, what no one knows is that the sweet deal One West got from the government was that they make MORE money if the house goes into foreclosure than if they try and help people. SO, what do you think they will do ???? Also, See below for what it says about them in Wikipedia:

Controversial OneWest Bank Foreclosures on IndyMac LoansIn enforcing its rights under the loans purchased from IndyMac, OneWest Bank has taken a much more aggressive approach to foreclosing on properties. On November 25, 2009 a Judge Spinner in Long Island, New York penalized OneWest for their 'harsh, repugnant, shocking and repulsive' actions in trying to work out a distressed mortgage, by canceling the debt in favor of the borrower.

On December 8, 2009 OneWest worked with the Sheriff's department to change the locks on a distressed home despite agreeing to work with the borrower just 8 days prior. This was done without any court actions which bypasses acknowledged and mandated Due Process on home foreclosures.

Additionally several judges have issued Temporary Restraining Orders and Preliminary Injunctions against OneWest preventing OneWest from foreclosing on properties where the borrower claims OneWest failed to follow proper procedure in foreclosing on the property or otherwise violated the borrower's rights.

A year after the New York Judge Spinner wiped away the debt, a appellate panel ruled that the judge had no right to do it. While Judge Spinner ruled that the bank's practices warranted him erasing the homeowners' debt, the appellate judges found that he had no authority to render such a judgment -- and did not give the bank fair notice that such consequences were even on the table.

by tlcpro April 4, 2011 9:51 AM EDT I requested of my servicer to show me the docs, and they flat out refused. I haven't made a mortgage payment in six months and I still have not received a foreclosure notice. This leads me to believe that the servicer has been pocketing my payments up until the point where I stopped sending them. I told them I would not send another payment until they proved to me where my money is going. Still they refuse. I have since moved out of that house and have listed it for sale. Reply to this comment

by offinitztime April 4, 2011 9:37 AM EDT My Nightmare is with OCWEN (a loan servicer) after being sold by Lakeside Mortgage to Long Beach Financial, and who knows who else, we ended up in the Jaws of Ocwen....the home was overappraised, no verification of income documents, 9% graduated interest payment, etc. after falling behind due to job loss, the 'helpful' ocwen employee took information to assist us with the HEMP program, Specifically told us NOT to make any payments while the paperwork was being processed, 9 months of resending paystubs, and every request they made, we were told we did not qualify for the Obama plan, but of course they had a plan for us.....again delays with paperwork, NEVER speaking to the same person twice, assured that they wanted to help us save our home, all the while they are tacking fees and penalites to the loan amount...now my home, ( its 25 years old) in the current market is worth $220,000 - the loan amount that they have my home at is.....are you ready? $469,000!!!!!! they submitted a modification after months and months of mediation with my county auditors office....was for $2,500 with a balloon payment of $130,000.......at an interest rate that they will not confirm or lock......I have an attorney, but I just kept getting the comment, well, they are theives....there is no one to go after because all of the lenders you delt with are all out of business.........I am at the end of my rope, and do not want to LOSE my HOME!! Is there anyone out there that can help??!!! Reply to this comment

by gwallis2 April 4, 2011 11:39 AM EDT Go to www.legacyclasses.com and get the truth.

by Tiger1over April 4, 2011 12:14 PM EDT Ocwen is pathetic and not likeyly to help you! Good luck with that company.

by billgates0001 April 4, 2011 9:06 AM EDT Every mess I've seen in recent time were caused by either an accountant or a lawyer. Maybe it's time keep them out of Washington. Honestly, business people seem to know very little about business and the people write they law also write the loopholes they later use down the road. Reply to this comment

by 1ZILLA1 April 4, 2011 8:32 AM EDT Another abusive loan servicer is IBM/LBPS of Beaverton ,OR. I had 3 investor loans originall with GreenPoint & Wachovia since 2001. From the beginning to maintain my 800+ credit score I had ACH payments so they were never late. In 2009 the servicing went through CountryWide, BOA. . . & then to IBM/LBPS to my severe misfortume. They without notice discontinued my ACH payments then started an avalanche of delinquent notices. They then misapplied loan payments, diverted my owm self pay insurance bills to themselves which they had no funds/ escrow to pay. Then tried to assign $ highly $ expensive 'forced placed insurance'. I complained to the FDIC, Office of Thrift, state consumer agency & judging from the responses I received I came to the conclusion they were all in bed together and virtually no consequences to IBM/LBPS. IBM/LBPS has made $600 in their favor interest mistake ( from the original Wachovia amortization )on a payoff I initiated just to get away from them. Their customer-no-service put me on long/ 20 holds. This is one loan servicer to stay far, far away from. Reply to this comment

by jvaran April 4, 2011 8:11 AM EDT Fisher and Shapiro in Illinois, had 1,700 foreclosures that were ordered to be 're-done'. The order is at badforeclosures.blogspot.com Reply to this comment

by OpenGovernmentNH April 4, 2011 9:43 AM EDT Thank you will cross post you, meanwhile check us out: Word up. They really are not outraged but the U.S. Trustee is most definitely outraged that I show up to their office with my little HD video camera, and he said as much on the record in open court last Thursday, business as usual. And Citibank laundered Mexican drug money according to the GAO but nothing happened to them, check it out: http://mortgagemovies.blogspot.com/2011/04/us-trustee-lawrence-sumski-hates.html SATURDAY, APRIL 2, 2011 NH US Trustee Lawrence Sumski hates Mortgage Movies exposing Harmon Law Office potential B10 fraud, now 60 Minutes joins the fray.

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by chunga85 April 4, 2011 7:40 AM EDT Thank you 60 Minutes and Lynn Szymoniak. What's going on is vicious class warfare waged by the elite against the dwindling American middle class. Visit The Foreclosure Hamlet. 'Supporting, Informing & Connecting People in Foreclosure' There is nothing for sale there, in fact it's strictly forbidden. Reply to this comment

by foreclosureweary April 4, 2011 7:06 AM EDT The banks did not fund the mortgages--that is why they have to create phoney assignments. In non-judicial states they just sell the house with no 'due process of law', so it's almost impossible to get justice. Please help expose this crime! Reply to this comment

by foreclosureweary April 4, 2011 7:01 AM EDT The fraudulent docs in foreclosures are from many companies all over the nation, not just LPS. It's mind-boggling to think there has been so much complicent fraud in so many areas related to foreclosures. Every foreclosure case has fraudulent docs!--please, please help expose this crime! Reply to this comment

by helpme60 April 4, 2011 5:03 AM EDT Hello Mr. Pelley and your 60 Minute Team. Great job on this report. I am a struggling 58 year old home owner who fell behind on my mortgage payments due to lose of income. I applied several times for assistance through my mortgage servicer, Wells Fargo Home Mortgage Company. I was fortunate to get into the Home Affordable Modification Program, HAMP last year. The Home Affordable Modification Program objective was designed to help struggling homeowners avoid foreclosure by modifying loans affordable for borrowers now and sustainable over the long term. Mr. Pelley I repeated sent WF not only my current financial paper work but my retirement financial papers as well. In hopes to get a modified loan that would be sustainable. I accepted the HAMP that WF sent out of desperation to keep my home and in hopes that through continued correspondence I would eventually get the modified loan that the Home Affordable Modification Program was set out to accomplish. After repeated attempts to be heard from WF executive office it appears they choose not to adhere to the Home Affordable Modification Program guidelines. I wonder how many others accepted the HAMP out of desperation only to be sitting on another mortgage time bomb. Therefore, I was wondering if you and your team could ask John Stumph, President and CEO of Wells Fargo Home Mortgage Company why they are turning a binds eye to yet another possible meltdown? They are only concern with a temporary fix and not with long term benefits to the borrower. Oh yes! I sent Mr. Stumph repeated letters to only be passed around the executive office from one executive officer to another. Any help you our the 60 Minutes team to offer would be greatly appreciated. Thanks for offering this formate. Reply to this comment

by EugeneNJ April 4, 2011 9:47 AM EDT Hire a Lawyer who 'Gets It', knows how to fight fraudulent foreclosures. After watching this excellent exposure of the fraud,it should tell you that the banks, HAMP are not going to help you.

by TXgirl56 April 4, 2011 10:59 AM EDT I tried to qualify for the HAMP program through Wells Fargo/ASC and was turned down twice. When I asked for the specific reason the first time I was told I made too much money, which was a joke. The second time they said my house was not worth enough, then I found out my $294,120 appraised home was valued by them at $215,000. I protested,then they had someone locally do a fair market value assessment it came back at $284,000, but they said I still did not qualify for HAMP and would not tell me why, just that when they used their formula I did not meet the guidelines.They told me very few people actually qualify for HAMP, it's very hard to qualify. Their in house option was a joke, $4,000+ in fees to initiate a modification though Wells Fargo, plus my original house payment increased. So I came to the conclusion they did not want to work with me and want to foreclose.I have been in this process for a year now, submitted paperwork and financial info a dozen times, not sure what is REALLY going on here??? Good luck to you, we both need it.

by mylesone April 4, 2011 4:25 AM EDT Since the mortgage securitization industry is done 95% through FANNIE MAE and FREDDIE MAC, and the federal govt owns them again, whereas before they were only acting like a federal guaranteed company, Obama should order the Treasury to not just nationalize FANNIE/FREDDIE totally, but also to have a one year MORATORIUM on all foreclosures where either FANNIE/FREEDIE is the investor. Giving a free ride? What do you think was given to INDYMAC/OneWest Bank and the other banks but super corporate welfare??? Besides, when the Wall Street banks got bailed out, they did not do as promised and Alan Greenspan(Fed Director) persumed for the good of their country, Had that bailout money gone instead to the homeowners, by Fannie Mae forgiving the loan or forgiving the amount in arrears until the homeowner could again get back on their feet, the mortgage crisis would be over, and not AGAIN be the threat that brings on a second American Great Depression. Reply to this comment

by mylesone April 4, 2011 4:11 AM EDT The story spoke of LPS. Anybody out there have evidence against Quality Loan Service Corp, another outstanding robosigner? Reply to this comment

by tlcpro April 4, 2011 9:53 AM EDT I don't know about them, but my servicer is American Home Mortgage Servicing. I see they have been in the news recently and have had a lot of complaints filed against them. I have the FTC and the Colorado AG looking into my situation.

by mylesone April 4, 2011 3:57 AM EDT How ironic that the FDIC's Sheila Bayer is interviewed because the FDIC created the problem as to One West Bank's corrupt sweetheart deal that violates all free market principles. The FDIC guaranteed OneWest that if they foreclosed on houses, they would lose at most 20%; the FDIC would cover the 80% of the loss. That meant that the TAXPAYERS are subsidizing OneWest to foreclose on TAXPAYERS OWN HOUSES!OWB gets government welfare to foreclose, not to modify loans which they usually refuse to do. THE KICKER--'liberals' George Soros and Michael Dell(Dell Computers), OBAMA's supporters are the key players behind OneWest drive to destroy the American Dream. I'm just waiting for Talk Radio jocks to hang the death of HOPE of the American Dream on Obama's re-election hopes. If this crooked mortgage tsunami kills the economy again, it show that Obama didn't learn anything, that he doesn't pay attention to domestic issues, that he's too incompetent to be President. He had better wake up and immediately ORDER this Sheila Bayer to find a legal reason to cancel the fraudulent sweetheart corporate welfare FDIC gave to Soros, Dell and OWB, stop the INCENTIVE to run foreclosure super mills, or Obama can kiss his re-election GOODBYE! Reply to this comment

by EugeneNJ April 4, 2011 10:06 AM EDT It's not liberals or conservatives that is running the show, it's the puppeteers who are pulling the strings on the government regulators, politician, banks, judges and Obama. Obama was just the store front puppet that is being used to appease the public, temporarily. There's a 'Short Sale' video that shows how One West Bank makes a TREMENDOUS PROFIT (in excess of over 100%-150%+)at the expense of TAXPAYERS the government approved in the takeover of IndyMac Bank)One West Bank).

by cherrytreestoo April 4, 2011 3:57 AM EDT And also be aware of these so call 'Property field inspector' or 'Foreclosure field inspector'. Usually they come to your door and say the bank send them or just hang an envelope on your door. They mow your lawn in the summer and winterized your home on the winter without any agreement from your side. Sometimes they just break into your house when they presume you are not at home. Taking your funiture,etc. 99.9% of them are not working for banks. Their recruiters are selling house condition and what they've done to maintained the house info to the bank. At the end bank paid them. This is the reason why the mortgages fees are getting higher when ones are waiting for home loan modification or when ones in foreclosure. Reply to this comment

by Signguy12 April 4, 2011 3:07 AM EDT I am wondering if our situation is in anyway tied into the forged document fiasco? We rented a home here in Rio Rancho New Mexico managed by a company based out of CA.in January of 2009. In July of 2009 we were served with foreclosure summons paperwork with the a long list of people as the defendants. Two of wich were listed as the actual 'owners' a Electronic Mortgage registration systems and then us as the unknown tenants. The minute we gave a copy of said paperwork to AKIMAX we had a notice posted on our door that should have been filed through the courts according to police but was not, stating that AKIMAX was no longer responsible for managing the property. We repeatedly tried to get the property to give us the owners information to contact them and they would not give me a number for at least two months. When they finally did it was a fax line. I went down to the County Clerks office and had them give me the information. Come to find out only one of the two people listed on the paperwork were listed in the County records. This 'person' apparently owned two $250,000 homes here in New Mexico that went into foreclosure within months of each other, but has an address in CA for a trailer park. The foreclosure went to the judgement stage and Chase Bank was awarded a summary judgement in July 2010. Now the home was slated for auction in October 2010 and was postponed month after month untill a week before the Feb 17th date in from what I am being told is that the sale has now been canceled. We could sure use some information or at least some direction as to what is going on as we have four children in which two of them benefit greatly from the programs they are in at the local school to help them with their learning disabilities and would like to not have to move. An interesting fact in our case is that the company AKIMAX managed about 50 properties here in our town of which from what I am told 90% of them all went into foreclosure within 6 months or so of each other. Now if I call that company they tell me they don't even deal with rental property, but the same representative that posted the notice on our door has been cleaning and prepping the property next door for new tenants and that is one of the few properties that did not go into foreclosure. Any information or guidance would be of great help. email me at signguy_12 AT yahoo Reply to this comment

by kid_coco April 4, 2011 3:00 AM EDT Well, yes, it is great the 60 minutes put this on...but this actually started from a writer by the name of Matt Taibbi from Rolling Stone. This fraud was 1st documented by him on a semi-national level, as not everyone reads Rolling Stone due to the stigmatism of being on the Right and being a popular culture music magazine...Matt's articles are amazing articulate, funny, and to the villian's heart... and he takes neither side, dem or repub...just documenting the corruption ... I really urge you do his article from on this many months back...anyways...I want to thank all the people that have commented here with decent, helpful insight how to battle the oligarchs, liars, and theives. I'm not in forclosure...but I certainly took it in the tookus from countrywide and now bank of america... countrywide did some crazy, crazy things with my escrow account...even people in the buisness were shocked by this...they jacked up my escrow and held thousands of dollars...i wondered why I was getting all these letters from weird agencies telling me 'I may have money due back on an fha loan' Yeah, I certainly did! It's so complicated...how would I know? You trust a system to work...even highly educated people can't understand it...it's criminal! BAC, has sent no documentation whatsoever that they own my deed...nothing...I was lucky, because I had a BAC checking account...and that was even complicated on the 'switch'... even calling them I received no resolution...no explaination...no statments...I didn't now how to pay or where to pay...just, the simple transfer button from checking to savings...something like that...I bet they hoped, I didn't figure this out...HOW DO I PAY YOU???? I seriously doubt they even truly have the 'real' paperwork that says they own a portion of my deed...I can't wait to see 'Kathy Green' on the paperwork! What takes a revolution in this country! What takes a revolution!!!??? Your kids getting killed by corporations? The FBI storming your house and taking your family? What does it take??? Common people are being pittied against common people, Unions vs Private, Middle Class vs. Poor... It's crazy! It's so discouraging...the level of power...the seperation of the masses...it's so discouraging...and the fear and ignorance keeps us truly at bay... Reply to this comment

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by foreclosureweary April 4, 2011 7:06 AM EDT The banks did not fund the mortgages--that is why they have to create phoney assignments. In non-judicial states they just sell the house with no 'due process of law', so it's almost impossible to get justice. Please help expose this crime! Reply to this comment

by foreclosureweary April 4, 2011 7:01 AM EDT The fraudulent docs in foreclosures are from many companies all over the nation, not just LPS. It's mind-boggling to think there has been so much complicent fraud in so many areas related to foreclosures. Every foreclosure case has fraudulent docs!--please, please help expose this crime! Reply to this comment

by helpme60 April 4, 2011 5:03 AM EDT Hello Mr. Pelley and your 60 Minute Team. Great job on this report. I am a struggling 58 year old home owner who fell behind on my mortgage payments due to lose of income. I applied several times for assistance through my mortgage servicer, Wells Fargo Home Mortgage Company. I was fortunate to get into the Home Affordable Modification Program, HAMP last year. The Home Affordable Modification Program objective was designed to help struggling homeowners avoid foreclosure by modifying loans affordable for borrowers now and sustainable over the long term. Mr. Pelley I repeated sent WF not only my current financial paper work but my retirement financial papers as well. In hopes to get a modified loan that would be sustainable. I accepted the HAMP that WF sent out of desperation to keep my home and in hopes that through continued correspondence I would eventually get the modified loan that the Home Affordable Modification Program was set out to accomplish. After repeated attempts to be heard from WF executive office it appears they choose not to adhere to the Home Affordable Modification Program guidelines. I wonder how many others accepted the HAMP out of desperation only to be sitting on another mortgage time bomb. Therefore, I was wondering if you and your team could ask John Stumph, President and CEO of Wells Fargo Home Mortgage Company why they are turning a binds eye to yet another possible meltdown? They are only concern with a temporary fix and not with long term benefits to the borrower. Oh yes! I sent Mr. Stumph repeated letters to only be passed around the executive office from one executive officer to another. Any help you our the 60 Minutes team to offer would be greatly appreciated. Thanks for offering this formate. Reply to this comment

by EugeneNJ April 4, 2011 9:47 AM EDT Hire a Lawyer who 'Gets It', knows how to fight fraudulent foreclosures. After watching this excellent exposure of the fraud,it should tell you that the banks, HAMP are not going to help you.

by TXgirl56 April 4, 2011 10:59 AM EDT I tried to qualify for the HAMP program through Wells Fargo/ASC and was turned down twice. When I asked for the specific reason the first time I was told I made too much money, which was a joke. The second time they said my house was not worth enough, then I found out my $294,120 appraised home was valued by them at $215,000. I protested,then they had someone locally do a fair market value assessment it came back at $284,000, but they said I still did not qualify for HAMP and would not tell me why, just that when they used their formula I did not meet the guidelines.They told me very few people actually qualify for HAMP, it's very hard to qualify. Their in house option was a joke, $4,000+ in fees to initiate a modification though Wells Fargo, plus my original house payment increased. So I came to the conclusion they did not want to work with me and want to foreclose.I have been in this process for a year now, submitted paperwork and financial info a dozen times, not sure what is REALLY going on here??? Good luck to you, we both need it. by mylesone April 4, 2011 4:25 AM EDT Since the mortgage securitization industry is done 95% through FANNIE MAE and FREDDIE MAC, and the federal govt owns them again, whereas before they were only acting like a federal guaranteed company, Obama should order the Treasury to not just nationalize FANNIE/FREDDIE totally, but also to have a one year MORATORIUM on all foreclosures where either FANNIE/FREEDIE is the investor. Giving a free ride? What do you think was given to INDYMAC/OneWest Bank and the other banks but super corporate welfare??? Besides, when the Wall Street banks got bailed out, they did not do as promised and Alan Greenspan(Fed Director) persumed for the good of their country, Had that bailout money gone instead to the homeowners, by Fannie Mae forgiving the loan or forgiving the amount in arrears until the homeowner could again get back on their feet, the mortgage crisis would be over, and not AGAIN be the threat that brings on a second American Great Depression. Reply to this comment

by mylesone April 4, 2011 4:11 AM EDT The story spoke of LPS. Anybody out there have evidence against Quality Loan Service Corp, another outstanding robosigner? Reply to this comment

by tlcpro April 4, 2011 9:53 AM EDT I don't know about them, but my servicer is American Home Mortgage Servicing. I see they have been in the news recently and have had a lot of complaints filed against them. I have the FTC and the Colorado AG looking into my situation.

by mylesone April 4, 2011 3:57 AM EDT How ironic that the FDIC's Sheila Bayer is interviewed because the FDIC created the problem as to One West Bank's corrupt sweetheart deal that violates all free market principles. The FDIC guaranteed OneWest that if they foreclosed on houses, they would lose at most 20%; the FDIC would cover the 80% of the loss. That meant that the TAXPAYERS are subsidizing OneWest to foreclose on TAXPAYERS OWN HOUSES!OWB gets government welfare to foreclose, not to modify loans which they usually refuse to do. THE KICKER--'liberals' George Soros and Michael Dell(Dell Computers), OBAMA's supporters are the key players behind OneWest drive to destroy the American Dream. I'm just waiting for Talk Radio jocks to hang the death of HOPE of the American Dream on Obama's re-election hopes. If this crooked mortgage tsunami kills the economy again, it show that Obama didn't learn anything,that he doesn't pay attention to domestic issues, that he's too incompetent to be President. He had better wake up and immediately ORDER this Sheila Bayer to find a legal reason to cancel the fraudulent sweetheart corporate welfare FDIC gave to Soros, Dell and OWB, stop the INCENTIVE to run foreclosure super mills, or Obama can kiss his re-election GOODBYE! Reply to this comment

by EugeneNJ April 4, 2011 10:06 AM EDT It's not liberals or conservatives that is running the show, it's the puppeteers who are pulling the strings on the government regulators, politician, banks, judges and Obama. Obama was just the store front puppet that is being used to appease the public, temporarily. There's a 'Short Sale' video that shows how One West Bank makes a TREMENDOUS PROFIT (in excess of over 100%-150%+)at the expense of TAXPAYERS the government approved in the takeover of IndyMac Bank)One West Bank).

by cherrytreestoo April 4, 2011 3:57 AM EDT And also be aware of these so call 'Property field inspector' or 'Foreclosure field inspector'. Usually they come to your door and say the bank send them or just hang an envelope on your door. They mow your lawn in the summer and winterized your home on the winter without any agreement from your side. Sometimes they just break into your house when they presume you are not at home.Taking your funiture,etc. 99.9% of them are not working for banks. Their recruiters are selling house condition and what they've done to maintained the house info to the bank. At the end bank paid them. This is the reason why the mortgages fees are getting higher when ones are waiting for home loan modification or when ones in foreclosure. Reply to this comment

by Signguy12 April 4, 2011 3:07 AM EDT I am wondering if our situation is in anyway tied into the forged document fiasco? We rented a home here in Rio Rancho New Mexico managed by a company based out of CA.in January of 2009. In July of 2009 we were served with foreclosure summons paperwork with the a long list of people as the defendants. Two of wich were listed as the actual 'owners' a Electronic Mortgage registration systems and then us as the unknown tenants. The minute we gave a copy of said paperwork to AKIMAX we had a notice posted on our door that should have been filed through the courts according to police but was not, stating that AKIMAX was no longer responsible for managing the property. We repeatedly tried to get the property to give us the owners information to contact them and they would not give me a number for at least two months.When they finally did it was a fax line. I went down to the County Clerks office and had them give me the information. Come to find out only one of the two people listed on the paperwork were listed in the County records. This 'person' apparently owned two $250,000 homes here in New Mexico that went into foreclosure within months of each other, but has an address in CA for a trailer park. The foreclosure went to the judgement stage and Chase Bank was awarded a summary judgement in July 2010. Now the home was slated for auction in October 2010 and was postponed month after month untill a week before the Feb 17th date in from what I am being told is that the sale has now been canceled. We could sure use some information or at least some direction as to what is going on as we have four children in which two of them benefit greatly from the programs they are in at the local school to help them with their learning disabilities and would like to not have to move. An interesting fact in our case is that the company AKIMAX managed about 50 properties here in our town of which from what I am told 90% of them all went into foreclosure within 6 months or so of each other. Now if I call that company they tell me they don't even deal with rental property, but the same representative that posted the notice on our door has been cleaning and prepping the property next door for new tenants and that is one of the few properties that did not go into foreclosure. Any information or guidance would be of great help. email me at signguy_12 AT yahoo Reply to this comment

by kid_coco April 4, 2011 3:00 AM EDT Well, yes, it is great the 60 minutes put this on...but this actually started from a writer by the name of Matt Taibbi from Rolling Stone. This fraud was 1st documented by him on a semi-national level, as not everyone reads Rolling Stone due to the stigmatism of being on the Right and being a popular culture music magazine...Matt's articles are amazing articulate, funny, and to the villian's heart... and he takes neither side, dem or repub...just documenting the corruption...I really urge you do his article from on this many months back...anyways...I want to thank all the people that have commented here with decent, helpful insight how to battle the oligarchs, liars, and theives. I'm not in forclosure...but I certainly took it in the tookus from countrywide and now bank of america... countrywide did some crazy, crazy things with my escrow account...even people in the buisness were shocked by this...they jacked up my escrow and held thousands of dollars...i wondered why I was getting all these letters from weird agencies telling me 'I may have money due back on an fha loan' Yeah, I certainly did! It's so complicated...how would I know? You trust a system to work...even highly educated people can't understand it...it's criminal! BAC, has sent no documentation whatsoever that they own my deed...nothing...I was lucky, because I had a BAC checking account...and that was even complicated on the 'switch'...even calling them I received no resolution...no explaination...no statments...I didn't now how to pay or where to pay...just, the simple transfer button from checking to savings...something like that...I bet they hoped, I didn't figure this out...HOW DO I PAY YOU???? I seriously doubt they even truly have the 'real' paperwork that says they own a portion of my deed...I can't wait to see 'Kathy Green' on the paperwork! What takes a revolution in this country! What takes a revolution!!!??? Your kids getting killed by corporations? The FBI storming your house and taking your family? What does it take??? Common people are being pittied against common people, Unions vs Private, Middle Class vs. Poor... It's crazy! It's so discouraging...the level of power...the seperation of the masses...it's so discouraging...and the fear and ignorance keeps us truly at bay... Reply to this comment

by mareadavis April 4, 2011 2:57 AM EDT This will make your blood boil. loan balance $478,000 + 6 months payments + $485,200 One West Bank paid 334,600 for this loan They received 241,000 cash from shortsale -241,000 Loss 244,200 FDIC pays them 80% of net loss 195,360 Add shortsale cash 241,000 They just received 436,360 They paid 334,600 Subtract and they have made 101,760 Profit thanks to FDIC Plus seller had to sign a $75,000 promisary note. So foreclosure is a big money machine for the banks. Watch short video explaining this at www.youtube.com/user/fiercefreeleancer Reply to this comment

by vrl0406 April 4, 2011 1:07 PM EDT You are absolutly correct on this. Someone really needs to get this out on 60 Minutes and expose these thieves for what they are !!

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by ohionotary April 4, 2011 2:56 AM EDT It was very disheartening to me to hear the young lady state she notarized the document signatures of 'Linda Green' even though she knew they were executed by another person. Notaries public are sworn officers all over the world, and commissioned by each U.S. state. The basic tenets of personal appearance and identification of signers have been Golden Rules of notary practice for over two thousand years. This woman repeatedly violated her oath of office, as did all the 'robo-signer' notaries. This underscores a significant issue raised within this story; that notaries are held to a high level of responsibility to serve a trusting public, yet among most states, there is little training or accountability for them. Your average school crossing guard receives considerably more scrutiny than the notary executing your mortgage package (which is full of your personal information), power of attorney, insurance claim, or any number of other important documents. Every mortgage in the U.S. is notarized by someone, and there's a lot of power(and potential for fraud)in that seemingly inocuous little stamp. Bring your hidden camera to Ohio and let's see how many untrained, clueless notaries you run across. As President of the Ohio Society of Notaries (www.ohionotaries.org), I am working with our Secretary of State to update an antiquated and very lax notary commissioning system, but the public needs to be made aware of the risk they are exposed to from incompetent and even rogue notaries around the country. Reply to this comment

by miinfluence April 4, 2011 8:39 AM EDT Ohio Notary Thank you for sharing your knowledge of notary law. Even though all those robo signers did what they did it is when the notary validates that signature that we have an even bigger problem. Please correct me if I am wrong but if a state requires a notary to maintain a journal which is a public document[i.e. Pa.] and the notary cannot produce said journal does the notarized document lose its legal standing or validity? Also is an employer responsible for the actions of a notary while doing the employers business? Thank again. by Billycrn April 4, 2011 1:39 AM EDT Issue with Banks This email is a very condensed version of what I am going through as advised by my concerned Senator Nelson's staff and the staff of Congressman Bill Young. Alex Sink, the Insurance Commissioner was on top of this and responded the fastest. However, after this past election the present Insurance Commissioner has not even gotten back to me at all. I had fraudulent activity on my Wachovia account in 2008 and reported it as I was told to do by the bank. I was advised that until the economic issue was settled, we could not proceed. Then in 2010 I discovered that two banks had decided to seek fees and penalty charges on my accounts with multiple charge cards and my mortgage. Bank of America started charging me for taxes which were not applicable to me due to disability and blindness. Bank of America sent a poor reporting that I had been late on occasion and had the credit bureaus change the entire history of my mortgage to reflect that they owned my house the entire time (from 1989.) I had to go and prove my disability with the Tax assessor but afterwards I was informed by Bank of America that I still had to pay taxes and the county of Pinellas had to reimburse me the funds? The county showed my cousin where BOA had reported that I was gainfully employed and made over 24K. I have been disabled since 2001 officially. Wells Fargo took over Wachovia and my records, including the report of fraud was not included in the documents sent to WF. WF then began charging me for over limit fees and other delinquent fees. WF has called me hourly even after my asking and writing with a request to cease the calls, causing me severe worry and stress, with some calls resulting in a decline of my health. I have been threatened with foreclosure, a lien on my house, and confiscation of my SSDI to cover the fees, which is a short list of how the phone conversations proceed. I was even told that there was no evidence of my disability which is in doubt by them. I ask for supervisors each time up to 20 times before I am hung up on or finally get a supervisor that checks my records. I even have taped records of some kind employees that discovered the error and tried to correct it. I have extensive records to show each of my claims. WF also had me recently sign a required consent if I was to continue banking with them, to take my house in the event of not paying the fees in the future and other things (look at their contract.) The same contract states that legal claims must be made in South Dakota and not in my home state of Florida. Since we all use banks, please read the contract carefully. Both banks inform me that no one has state or federal authority on them and that the Office of the Comptroller of the Currency acts only as an arbiter for each claimant only. Finally, the news media cannot seem to get the story right, instead of researching why the banks can get away with their actions; they simply report the banks are doing SOME things that SEEM illegal, without telling people watching, how to proceed with reporting the horrible treatment and just WHO these banks answer to. I have documents and recordings to share in the event someone wants to figure out who the consumer can turn to for help. It is a sad day when a bank can kick someone unemployed and trying down, and the elderly; but kicking down a disabled blind person is even more egregious. Billy W. Childress Jr. RT(R) RET, RN, MSN/MBA/HC Reply to this comment

by Stevem22 April 4, 2011 1:38 AM EDT One LARGE POINT missing from this story is that most people that are in Foreclosure should be not fighting to stay in their homes. Most of these people who borrowed more than they can afford should leave and rent a more affordable place to live. Some borrowers could afford the payments at the time they took out the mortgage but they may have lost their jobs. While we all feel bad about it, these stories about people fighting foreclosure for years without making ANY payments, or paying property taxes is not fair to the rest of us who continue to pay or rent or mortgage payment every month. Why should you live rent free? When a borrower does not make the payments on a loan, the bank has a right to foreclose. WHY DOES IT MATTER whether or not they can find the correct paperwork on a foreclosure. If you are in foreclosure, you should lose your home. Unless fraud was committed against you by someone. Everyone here is blaming the Lenders. They just gave you a loan to buy a house. They have a right to a rate of return on the loan, they are under no OBLIGATION TO MODIFY the payment for you because you can't pay the agreed upon payment. So many people used their homes like Cash Registers. They kept on refinancing and spening the money on Vacations, cars and Second homes. That is their own fault. Reply to this comment

by mortgagevictim2007 April 4, 2011 2:56 AM EDT REALLY, I respect your concerns...as seen on 60 min. a year ago....these lenders were falsely giving people loans knowing that they could not meet the qualifications but I feel the people we seen tonight are people who are in need. I'm so glad to hear that you have a wonderful life and that you are fortunate not to walk in these peoples shoes, everyones circumstances are different and in a blink of an eye life situations cause life paths to change for good and for bad. regardless, I see these people willing to pay, to make good on their loans, they are the ones who can't sell their homes because the values are so low. I much rather have a neighbor living in the house next door, then to live next to an abandoned home... The lucky ones, are the ones that were smart enough to cash out before the housing market took a dump...Thank you for sharing!

by YouRTheLender April 4, 2011 3:03 AM EDT No No No... the Banks NEVER loaned anyone a penny! The People were the lenders and the banks the borrowers!

by YouRTheLender April 4, 2011 1:31 AM EDT 1099 TAX LIABILITY HELP Friends - Get this through your heads - PLEASE... THE REAL FRAUD HAPPENED AT THE CLOSING TABLE - NOT AT THE REASSIGNMENT OR SALE OF YOUR MORTGAGE to investors. All this talk about what they did after the loan was signed is a smoke screen to the real fraud. THE BANK NEVER LOANED YOU ANY MONEY...THE BANK NEVER LOANED YOU ANY MONEY... THE BANK NEVER LOANED YOU ANY MONEY...THE BANK NEVER LOANED YOU ANY MONEY... THE BANK NEVER LOANED YOU ANY MONEY...THE BANK NEVER LOANED YOU ANY MONEY... Every person that created/signed a promissory note that was deposited with a bank for a mortgage or any other type of bank loan CREATED THE MONEY THEMSELVES and the bank took it and converted it into a deposit account for you and then issued a check and pretended that they loaned you money. Then they filed a State claim to retrieve your 'abandoned funds' (that you didn't even know you left there) and kept the money. Read MODERN MONEY MECHANICS by the Federal Reserve Bank of Chicago [pages 3-5]
(http://upload.wikimedia.org/wikipedia/commons/4/4a/Modern_Money_Mechanics.pdf) and you will see that this is what they have been doing for years: STEALING YOUR PRIVATE CREDIT and converting it into bank credit. The reason they have to do this is there has been no lawful money in the US since March 1933 and the only thing that the government has to draw upon to create currency is the private credit and assets of its Sovereign citizens who are still solvent. (look up HJR192 & Public Law 73-10). Since you did, IN FACT (by their own rules and definitions), give the bank the money that they used to fund the loan, you should immediately issue a 1099 to the bank showing that the bank received these funds from you and they DID NOT claim this income or pay tax on them. Send a copy to your IRS office, your Governor and State Attorney General demanding that this bank pay their delinquent taxes. Go and download a copy of the PDF instructions - http://www.irs.gov/pub/irs-pdf/i1099gi.pdf Go and download a copy of the PDF 1099 form from the IRS website http://www.irs.gov/pub/irs-pdf/f1099msc.pdf * Follow the instructions and put the amount of the promissory note plus any interest paid to date in the amount box. (If you're not sure how to do it, ask an accountant how to properly fill our a 1099 for a 'person' you paid in a previous tax year.) * Use the bank's EIN number for the payee's tax ID number * Mail it to the CFO of the bank via US Registered Mail (not certified), adding a green USPS Form 3811 Proof of Receipt return. * Mail the copies to the Governor, Attorney General and IRS via certified mail along with your cover letter demanding that the bank pay their delinquent taxes, late fees and penalties. ALSO - Anyone that has received a 1099 from a bank or court for a debt forgiveness after a foreclosure or partial reduction in principal should just turn around and issue a 1099 back to the bank for that amount! Then show the IRS that you did not received any consideration from the bank at all, rather the bank received it from you! If we all do this, the banks will be exposed as being liable for the trillions of dollars WE CREATED when they deposited our notes, monetized them and then stole from us! There will be hell to pay for them with the tax man! The IRS doesn't really care from whom they get their money and will be quite happy to freeze the bank's accounts to take what is theirs... We could collapse the banks with the help of the IRS! Best of luck! Pastor G Reply to this comment

by joelacostaesq April 4, 2011 1:09 AM EDT you also need to dispute the clAIM Reply to this comment

by blaqrubi April 4, 2011 1:02 AM EDT Oh and let's not talk about the Banks that you don't have a mortgage with, going to the recorder's office, pulling your note, recording a fraudulent Substitution of Trustee and Assignment and FORECLOSING on you. How about that? Reply to this comment

by YouRTheLender April 4, 2011 1:01 AM EDT EXCERPT FROM PAGE 3 OF MODERN MONEY MECHANICS BY THE FEDERAL RESERVE BANK OF CHICAGO Who Creates Money? Changes in the quantity of money may originate with actions of the Federal Reserve System (the central bank), depository institutions (principally commercial banks), or the public. The major control, however, rests with the central bank. The actual process of money creation takes place primarily in banks.' As noted earlier, checkable liabilities of banks are money. These liabilities are customers' accounts. They increase when customers deposit currency and checks and when the proceeds of loans made by the banks are credited to borrowers' accounts. In the absence of legal reserve requirements, banks can build up deposits by increasing loans and investments so long as they keep enough currency on hand to redeem whatever amounts the holders of deposits want to convert into currency. This unique attribute of the banking business was discovered many centuries ago. It started with goldsmiths. As early bankers, they initially provided safekeeping services, making a profit from vault storage fees for gold and coins deposited with them. People would redeem their 'deposit receipts' whenever they needed gold or coins to purchase something, and physically take the gold or coins to the seller who, in turn, would deposit them for safekeeping, often with the same banker. Everyone soon found that it was a lot easier simply to use the deposit receipts directly as a means of payment. These receipts, which became known as notes, were acceptable as money since whoever held them could go to the banker and exchange them for metallic money. Then, bankers discovered that they could make loans merely by giving their promises to pay, or bank notes, to borrowers. In this way, banks began to create money. More notes could be issued than the gold and coin on hand because only a portion of the notes outstanding would be presented for payment at any one time. Enough metallic money had to be kept on hand, of course, to redeem whatever volume of notes was presented for payment. Transaction deposits are the modem counterpart of bank notes. It was a small step from printing notes to making book entries crediting deposits of borrowers, which the borrowers in turn could 'spend' by writing checks, thereby 'printing' their own money. Reply to this comment

by blaqrubi April 4, 2011 1:00 AM EDT Kudos to 60 Minutes for bringing this issue to light. As you can see from the comments here, this matter deserves the FULL 60 minutes. There is more FRAUD than you can imagine. People who DON'T have MORTGAGES are being foreclosed upon. Homeowners are being BEAT DOWN in court by Judges that simply don't get it OR, as one judge told me HE IS a landlord... so how fair and impartial do you think he will be? The FDIC's solution to pay people $20,000 to walk away is simply a ROUSE to let banks get away with CRIMES against not only the American people, but the ENTIRE WORLD economy. I live in Oakland California and I have been fighting for my home since 2006. And if I was fighting since 2006 that means this fraud was underway BEFORE 2006. By 2008 I was a litigation machine by then. I have ONE (one mortage no second. I bought the house for $149,000. The bank has demanded $2,000,000 (TWO MILLION). You wanna hear a REAL story, send me an email! blaqrubi@yahoo.com. The sad part is, while my story may be FACINATING, I know at least 20 people with equally entertaining tales of woe. Reply to this comment

by joelacostaesq April 4, 2011 12:48 AM EDT I am an attorney in California and have yet top see a real signature in over fifty cases. If you want to fight for your home contact me at joelacostaesq@gmail.com. Reply to this comment by 1tractorman April 4, 2011 12:43 AM EDT There is a lot of off the wall comment here, Lets not forget when speaking up for the mortgage industry that the MORTGAGE BANKERS of AMERICA DEFAULTED that STRATEGIC DEFAULT on their own building because of failing commercial values. So when you say DEADBEAT make sure you add the MORTGAGE BANKERS OF AMERICA to the list of deadbeats. Reply to this comment

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by GuyFawkes134 April 4, 2011 12:29 AM EDT 'Why should I care about this story?' Why anyone DEFAULT or NON-DEFAULT....if you did business with real estate in the last decade, guarantee your title is massively screwed up. Part of my legislative hearing testimony: 'Nationwide, homeowners have learned that the contracts we entered into when purchasing our homes were not really mortgages, but security instruments involving parties unknown and undisclosed to us. These mortgages have been endorsed and assigned to parties unknown and undisclosed to us and not recorded, often many times over. Such endorsements and assignments were conducted without proper recordkeeping, possibly making identification of our true creditor impossible and therefore, valid lien release upon payoff, also impossible. The banking industry allegedly avoided proper recordkeeping intentionally to bypass having to pay local recording fees. This lost revenue, which could tally into the millions of dollars, has robbed our local economy and contributed to the financial crisis that our state is in. Credit enhancements and insurance policies were attached to our mortgages without our knowledge, financially enriching parties unknown and undisclosed to us in the millions of dollars if we went into default. Often times, we were targeted for such default at loan origination. Or we were targeted for our good credit scores, which were sought after to disguise the poor credit scores within the same traunch of securities. We have learned that because our titles are now clouded due to securitization, documents may have been falsified to fabricate a perfected chain of title allowing parties with questionable standing to foreclosure on our homes. And finally, we have learned that our creditor or creditors have likely been made whole already through various insurance policies, credit default swaps, and when all those funds were exhausted, bailout money from our tax dollars.' This didn't happen by accident. We are witnessing the biggest land theft since the U.S. stole land from the Native Americans. Land is the new gold standard. Reply to this comment

by teedoff2011 April 4, 2011 12:18 AM EDT I agree whole heartedly with everyone's comment on this blog. A lot of people thought they were living the american dream when they purchased their homes, whether it was the first or the last. It turned out for some to be a serious nightmare especially when jobs are at a all time low, the banks are ready to kick you out. My husband and I filed a ch,13 and it wasn't because we were behind in bills, it was because we were behind in the mortgage. Our attorney turned out to be the worse and most disgusting individual we have ever met. After interviewing us the first time, we could never meet with him again because he turned us over to a young a..h.. trainee who didn't know jack, but tried to pretend he was so educated, that our mortgage cost us more than we ever expected to pay a month for any home; and the trustee and attorney fees combined was another housenote in itself. We paid it for a few months, and refused to continue after we heard all of the mortgage fraud that was taking place. They play the victim role, like it's their monies that you are holding back from them, when in reality they owe you. There has got to be some serious changes coming forth. I have hired someone to do a securitization on my home, and a forensic audit. I've put all of them on notice, the mortgage company, attorney General, Fbi,Mers, Fannie Mae and a whole lot of other folks. The Judges need to be handled as well, along with the attorneys and trustees. The BK trustee needs to be scrutinized as well. He's getting a chunk too. They all need to be joining other criminals who break the law; what makes them so special? I was told by several people, don't leave your home under no circumstances, if they lock your door, then break in,it's your home. Send your mortgage company certified letters with a QWR asking them to produce not just the note but the wet ink signature and let them know, you would like to challenge them in the FBI's office. There are many things you can hit them with, this is only a few basic things. Whatever you do, stay in your home and fight them with your very last breath; they defrauded you, by stamping the back of that promissory note, saying pay to the order of, or paid in full. Just believe like the Bible says, God has already paid that debt so you don't have to do it again. Reply to this comment

by FrustratedinOR April 4, 2011 12:18 AM EDT Are you kidding me?? Not everyone is a deadbeat. We got our mortgage in 2005. Paid on time. Our loan was sold without notification. We continued to pay original company who accepted and cashed our payments. Three months later, we are notified by new company that we are 3 months behind. Plus fees, they wanted us to send about $7000. They said - too bad about other company - you'll have to deal w/them about getting money back, but in the meantime, you are in default with us, so you need to pay or we'll forclose. We couldn't come up with the money and started the mod process. After 3 months, we were told we made too much money. But hey! We can ddo an in house mod! Which was for $500 more a month than our original payment!!! So we thought okay, this is the only thing we can do. Started making payments. Guess what - loan is sold back to ORIGINAL company. They tell us the contact isn't valid with them and that we need to do a mod with them. Okaayyy....that was 2 YEARS ago. We still have not had anything productive happen to resolve anything. Two months ago, they quit taking payments, saying that unless we send them about $$13,000, (you should see the list of fees) they will forclose. They tried to forclose last Sept, but we got it stopped (Chapter 13). We are now in the process for re-mod again (thank God for our lawyer), our credit is ruined, we have no certainty of anything about our living situation right now and I am just ticked off by the whole thing! I have not heard from our mortgage company in 2 months, despite phone calls, faxes, emails and certified letters. I just sent a letter for Validation of Claim (proof of WET INK signature) so we will see. I don't want a free house, I just want to pay a fair price, at a fair interest. So tell me, everyone who thinks we are all deadbeats, aside from being ignorant of the realities of the real estate scam, WHERE DID WE GO WRONG??? We were screwed from day one and they knew it. Reply to this comment

by GuyFawkes134 April 4, 2011 12:35 AM EDT The bank pegged you as a 'deadbeat' from day one. 'Deadbeat' and 'Free House' are the banking propaganda. The only deadbeat is the criminal banking industry. And the only ones getting free houses? Again, that would be the criminal banking industry. Why would you be signing a loan mod? The banks cannot offer you a loan mod since they don't own your home?

by FrustratedinOR April 4, 2011 12:54 AM EDT Do you mean 'deadbeat' in that it was a con from the beginning? If so, then I agree with you. We had good credit and did not get into more home than we could afford (even though they offered us up to $450,000). We are just an honest, average working family. Like so many have said, they created this whole situation for financial gain. I do not know if this is true or not, but we were told that many companies are atually trying to get paid 3 TIMES for one house. 1)They had already had in place payment for breaking up the loan to be sold as securities before we even signed. 2)They got payment when the bailouts were handed out. 3)They are geting (or hoping to) payment from the house buyer. So in essence, if your loan was for $200,000 they were paid, most likely in excess of that for the original sale, then got taxpayer money as payment in the bailout and are now trying to get money out of the home buyer or take the home to resell and make money off the next poor sucker who comes along! Meanwhile, all of us avereage joe's are having our lives ruined.

by mikent April 4, 2011 12:17 AM EDT I wrote to my mortgage servicer, Bank of America, requesting them to 'show the Note'. They responded with two letters. The first said they had no legal obligation to show me the Note. The second said that 'a credit block was placed while the issues in your letter were addressed.' And further, 'Therefore, we will not remove the negative credit reporting from your credit file.' In other words, Bank of America has damaged my credit for my simply asking them where my Note is. I sent copies of the BOA letters to my Attorney General. As of now, I haven't received a response. Reply to this comment

by GuyFawkes134 April 4, 2011 12:35 AM EDT Sue them.

by sdavis1958 April 4, 2011 12:15 AM EDT I have a serious problem with my home loan.I need help with this mess and can not afford to hire an attorney. I found out in 1999 that my house loan was insured for $400.00 of the $758.00 a month payment that my accident insurance was paying on.I took this out on my loan cause if something happened to me and I could not make payments. We had this insurance before on our loans when my husband got hurt in semi wreck.Why anyone would only insure for less than payment is stupid. Then in 2000 more problems came about. Was being charged for $29,000 for a loan plus $15,000 in interest on a loan that was paid off in 1996. Then there is forgery on a $45,000 note that I would not agree to as well. I have tried to work this out with company and can not do it because it is not right. They claim I owe $45,000 on home loan but will drop it to $20,000 if I agree to their terms.I have every document on all of these loans to prove what I am saying. I feel if they had a legal claim then they would have foreclosed on me years ago. Or maybe they are worried if they do then I can prove what they have done wrong. But I still need legal help. It has been since 1998 that I paid on my home loan I paid $13,000 out of my workers comp settlement and Oct 2006 since final payment on insurance. If someone could help I live in Tennessee. Reply to this comment

by carmenlynne April 4, 2011 12:10 AM EDT Somebody contacted me recently about a Mass Joinder lawsuit against Bank of America. I'd like to join but I'm not sure if it's legit. Does anybody know anything about this? Reply to this comment

by sheriehawley April 4, 2011 12:05 AM EDT I have made automatic payments for a mortgage i have owned for five years. I received a letter saying I owed two months mortgage. Yet, each month as usual the money had been deductive from my checking account. I found out there was an escrow adjustment of $57 dollars. I added $57 dollars by phone and at the branch to fix the problem. Found out a month later that the problem was not fixed, money still in 'suspension' and credit ruined. I had worked so hard to get a 788 credit score so I could get a good rate with a community bank. But no bank will give you a mortgage if you have a late payment in the last 12 months. I have talked to numerous people at Chase and still no resolution -- my money is stuck in suspense. Never have I had a problem like this ----it's horrible and the time it takes is unforgivable. By the way...why should the homeowners accept the blame for this economy and the housing market? We can't sell or rent our homes if they are upside down -- there are some homes in my area that have dropped $150,000 in the last couple of years. Why should the burden not be shared? Reply to this comment

by valleydavid April 3, 2011 11:59 PM EDT MERS shows a record of my property for American Home Mortgage from my original note date in 2004. The property was refinanced with Wells Fargo in 2005. Why does MERS still show a record on my property for the original note? Does this mean the original note was not tranferred to WF? I'm in California Reply to this comment

by joelacostaesq April 4, 2011 12:56 AM EDT Mers was even decertified from doing business in California for a time, where in california are you located?

by valleydavid April 4, 2011 1:08 PM EDT I'm in Los Angeles but why should it matter the question is why are they still showing the record and what is the implication?

by leoorozco April 3, 2011 11:58 PM EDT If you live in San Diego County or OC County; I have an attorney who helps home owners facing Foreclosure without a retainer. You can call me tomorrow at 760-579-2871 for his contact info... Reply to this comment

by joelacostaesq April 4, 2011 12:58 AM EDT All attorneys should get a retainer agreement if fees are over $1000, just a heads up the state bar is watching all of us doing this area of the law.

by SDforeclosevictim April 4, 2011 1:12 AM EDT If your attorney is that good why not give the information to his/her website instead of having your phone # listed on her publicized? by GuyFawkes134 April 3, 2011 11:57 PM EDT Ms. Bair, I called your Ombudsman office on Friday. I'm just wondering when I can take the first bribe. You said in this interview that 'banks should provide a clean-up fund' so that hoemowners accept the documents without litigation....I will take you up on that. Here's my terms: $400,000 + treble damages. Reply to this comment

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by rodneyketrod44 April 3, 2011 11:47 PM EDT I currently have a loan on my home with Chase. I have recently recieved a trial modification as of March 30. We have been in default on our home since 2009 april, and have had several sale dates. Our loan is a mers loan and has been transfered from Alliance Bancorp, Bank of america, Washington Mutual and now Chase, so we have run through several different servicers. How can we find out if the original loan documents are still available and what avenues do we have to fight to recieve our legal rights in this situation. Are there any class actions lawsuits that we may be eligilble for please let us know. Reply to this comment

by abott4678 April 3, 2011 11:45 PM EDT Does this stop all foreclosure proceedings? If no/any/all ownership can be proven. And if the federal government still owns stocks in banks, would this bar all federal judges and federal attorneys from involment in any/all legal cases? What is to prevent anyone/everyone from ceasing payment on their mortgages, tomorrow? We know a story of someone who bought high, and has now lost their job, and was only a few months away from loosing their house. Can they now just stop paying the mortgage? Does the foreclosure process have to prove who owns the mortgage/property? How can any judge rule on these issues? Another story is someone who wants to buy, but even if there was never any foreclosure, how can title company prove who owns property/mortgage? What a mess!!! Reply to this comment

by wellsfargoloanfraudvictim April 3, 2011 11:41 PM EDT Wells Fargo originated us fraudulent mortgage loan in 2005 and wrongfully foreclosed our home in 2010 based on its fraudulent mortgage loan. Now, Wells Fargo is falsifying 1099 tax form to further defraud us and the taxpayers. In its first version of 1099 form, Wells Fargo listed Freddie Mac as our mortgage lender. However Freddie Mac confirmed to us in writing that it was not our mortgage lender. In Wells Fargo's second version, it changed and listed Wells Fargo as our mortgage lender. However, Wells Fargo informed us in writing that it had sold its fraudulent mortgage loan to a pool of investor which is now managed by U.S. Bank. Wells Fargo has repeatedly proven in our case that it has built a business model based on fraud. www.wellsfargomortgagefraud.com Please sign the petition and join the fight to: 1. Break up 'too big to fail' banks 2. Demand criminal investigation and criminal prosecution and stop Wells Fargo from defrauding this great country and its people Reply to this comment

by givethewholestoryplease April 4, 2011 12:03 AM EDT So, you made all of your mortgage payments and Wells Fargo still foreclosed and took your home away? If that is the case, I will contribute to a legal fund on your behalf.

by SnohomishSlew April 4, 2011 3:41 AM EDT To 'givethewholestoryplease' - he did. Did you read his website, or are you just typing words into a blog? The guy paid $501,000 for a house valued at $475,000. They foreclosed on him because they wanted the difference between what he paid ($501,000) and the fraudently-appraised purchase price of $718,000 (the appraiser lost his license for fraudulent appraisal). The rest of the story you need to read for yourself. Then there's a form on the bottom of the site for comments - that's where you can give him your contact info and make arrangements to contribute to his legal fund as promised.

by Virginia51 April 4, 2011 4:02 AM EDT Filed last year by a Wells Fargo shareholder and still pending in Superior Court of California, County of San Francisco, Marshall v. Kovacevich, et.al., CGC-10-496137 for various improprieties including Breach of Fiduciary duty, Abuse of Control and Gross Mismanagement stating in paragraph 2 of the Complaint filed on June 25, 2010: 'Wells Fargo authorized and paid millions of dollars in bonuses to officers and employees, and fees to attorneys, accountants, and consultants, for coming up with these sham transactions to defraud the government and taxpayers out of millions of dollars in tax revenues. They sought to cover these actions with faulty and bogus legal opinions, for which they paid hundreds of thousands of dollars, if not more. Meanwhile, while fighting with the Federal government to avoid paying Federal income taxes, Wells Fargo took $25 billion in TARP funds from the Federal government and paid millions in bonuses.' In the Complaint are the compensation schedules. It's no wonder these banks are in such a mess... in 2007 Wells Fargo Chairman grossed over $22 MILLION. Boy, he must be really good!

by cwhatno1elsecs April 3, 2011 11:37 PM EDT Everyone who was interested in this segment should do a Google search for Kemp vs. Countrywide, or check out this link: http://www.dailyfinance.com/story/credit/bank-of-america-mortgage-document-errors-trouble-countrywide/19728402/ That case is now considered a landmark decision where it was common practice that the note was never passed on to the trustee as this segment showed. It also verifies how the banks submit fraudulent paperwork to the courts in attempts to win their cases. This was the first time that an upper level management employee of Bank of America (who now owns Countrywide) testified on the stand that selling the mortgage but holding on to the note was common practice and that documents were fraudulently created in preparation for litigation. As this 60 minutes story said, it has multi-billion or trillion dollar consequences. Reply to this comment by mortgagevictim2007 April 4, 2011 1:44 AM EDT Thank's 60 minuntes for opening pandora's box! and to cwhatno1elsecs... I mean this in a good way. Like so many of the people out there regardless of who it effects, reality is, it appears that this mortgage plague is going to be knocking at everyones front door. unless you are lucky and fortunate to be mortgage free. Our loan began w/Countrywide 2007 then was transfered to Bank of America when Countrywide went under...We are very concerned and was wondering why our refi was taking so long with B of A, We were told that it would take 60 days, we paid B of A 35 dollar fee up front to start the service of the refi...Hmmmm makes us wonder what really is going on....my husband is up in the attic looking up the closing doc's (escrow papers) that we received from Countrywide...And don't know if we should be making a phone call tomorrow to the lender at B of A in regards to our loan status...Thank's for the info...we will be surfing the net at the site you recommended why doesn't Obama jus put a freeze on everything like Nixon's administration did, so things can mellow out? O'ooo sorry another story.

by mortgagevictim2007 April 4, 2011 2:12 AM EDT OMG! Thank you for the site recommended.... Very informative.

by kid_coco April 4, 2011 3:42 AM EDT Matt Taibbi from Rolling Stone opened Pandora's box...read his article on this months ago... by realtor1990 April 3, 2011 11:35 PM EDT CORRECTED How about suing the judges and the bank's lawyers? The first ones, because they can never have jurisdiction with those fraudulently fabricated evidences, and much less with those fraudulent loans. And the second ones, Bar Rules prohibit them of defending their clients in those circumstances. What judges and lawyers are doing is a second wave of 'subrpime loans' all under the beneplacits of the government. Perhaps anarchy is the answer... Reply to this comment

by Tom_Burnsed April 4, 2011 4:35 AM EDT I'm afraid it will come to that if enough people perceive the double standard in the enforcement of LAW. 'If the law doesn't apply to the Banks, then why should it apply to me?', will be the thought process. Once that idea hits critical mass and enough people are hungry and homeless we will see the troops brought home from overseas to protect the government. Then we will see if a volunteer military has its heart with the citizens or the bought and paid for corrupt government. I think they will choose to stand by their families and neighbors as long as protests remain peaceful. by banksterslayer April 3, 2011 11:28 PM EDT We have been posting lots of info and news clips for months about fraudclosure and MERS. When are the bank presidents who deliberately perpetrated this fraud going to be sent to jail? Please join our Facebook movement requesting a nationwide Credit Card Payment Boycott until the Banksters get sent to jail. http://www.youtube.com/banksterslayer Reply to this comment

by babygump1 April 3, 2011 11:17 PM EDT I too am in the middle of a foreclosure with wachovia bank. I tried ref, declined hamp mod declined, called hope program and was informed to reapply for Hamp because i should qualify for it, i did declined again. I had someone recommend a person to help me, she called the lender and stayed on the line with me threw the interview. thats when i found out the first time i was declined my income was not verified, and they had it as 1 penny. So i reapplied again just to be turned down because of debt/ratio. So again i tried working with the lender. I requested a 6 mont repayment was told no, asked about forgiveness, still no, in lieu of deed still no, but was not ever offered any of these options until i asked about them. I even offered to pay more than half of the reinstatement fee like i was told to by the lender and was still turned down. So in their letter stating they want you to keep your home is a false accusation. What is even worse the bank assigns you a loan specialists, that did not catch the error in my income verification so now im forced to sale my home in a short sale or foreclosure, why cant it be stopped since they made the error. and there is a local rep here in my town why cant he have been my contact instead of a different person everytime i called and so i didnt waste my time faxing over the same paperwork at least fifteen different times. Wheres the help. I dont see it Reply to this comment by realtor1990 April 3, 2011 11:16 PM EDT How about suing the judges and the lawyers? The first ones, because they can never have jurisdiction over those fraudulent loan documenets, and much less with those fraudulent loans. And the second ones, Bar Rules prohibit them of defending their clients in those circumstances. What judges and lawyers are doing is a second waive of 'subrpime loans' all under the beneplacits of the government. Perhaps anarchy is the answer... Reply to this comment

by RGForensics April 3, 2011 11:12 PM EDT Well I must thank everyone who has officially produced and contributed to exposing this mess. I am a fraud analyst much like the woman in this piece and finally feel relief the truth is coming out and will now be taken seriously. Sigh, the fight continues; but now with evidence. The banks need to remember 'We the people' there are alot more of us than executives. Reply to this comment

by BecinCA April 3, 2011 11:09 PM EDT We are going to court tomorrow to try to stop from being evicted Tuesday from our home of 22 years. Wells Fargo is having Ocwen serve as our loan servicing company and Ocwen has is not honoring our previous in house loan remodification from Home Eq. We have tried for months to get answers and Ocwen has ignored our calls and emails. This is a nightmare! We do not want to lose our home and are willing to do all that we can to save it, and to save us from being evicted on Tuesday. Reply to this comment

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